Banknifty - Morning Star Pattern 10 Aug

What Does Morning Star Mean?

A morning star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.
A morning star forms following a downward trend and it indicates the start of an upward climb.
It is a sign of a reversal in the previous price trend. Traders watch for the formation of a morning star and then seek confirmation that a reversal is indeed occurring using additional indicators.

The opposite pattern to a morning star is the evening star , which signals a reversal of an uptrend into a downtrend.

Can we expect a bullish move .. please put your thoughts into comment.


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+1 Reply
kiranrshinde acharyastate

Thank you so much.
It's already can we consider it morning star
kiranrshinde Traderguptaji

We must not only consider Downtrend but must look at the Candlestick Pattern formed.
And Downtrend does not always means a big downfall, it can be a small retracement as well. "It is a sign of a reversal in the previous price trend."