A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.
The red line is a supportive line since november 2006...so if we discount fridays fall and todays rise then the support still looks good..and we might see nifty trying to enter the sideways trend in the brown lines.....
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 22 white candles and 28 black candles for a net of 6 black candles.
The red line is a supportive line since november 2006...so if we discount fridays fall and todays rise then the support still looks good..and we might see nifty trying to enter the sideways trend in the brown lines.....
lazy brain....Hourly chart is bullish but i dont trade on hourly basis, and i am comfortable with entering in to trend late rather than whip saw out. 
