I know that its a BEARISH CONTINUATION pattern. The falling three methods candlestick behaves in theory as it does in real life. It is a bearish continuation 71% of the time and a reversal the remainder of the time.
The 50-share Nifty index is expected to open higher on Friday tracking positive Asian markets, while investors will keep a close eye on ITC ahead of its quarterly results which will be out later today. Stocks in news are ITC, JM Financial, Mahindra Satyam, L&T, ICICI Bank, Arvind Remedies, GSFC, Reliance Capital, DB Corp, Arvind GACL, Welspun India and Cadila Healthcare.