Hi Its been a while since my last post. In this post I have represented selective candlestick reversal patterns. In a candlestick, "body" represents the distance between candle OPEN and CLOSING price. Whereas "wicks" represent the entire range of the candle from TOP to the BOTTOM. In most of these patterns only bodies are important. There are no conditions for...
people often mistakenly see this signal as the morning star signal and book losses. this signal does not fulfill a very necessary condition of the morning star signal, ie., the third day candlestick does not penetrate at least half of the first day black candle which is of utmost importance!
This is the second lecture of the series "basics of the stock market". In this class, we will discuss few candlestick patterns and will try to identify those in the chart.
READ THE CHART -PLEASE DONOT FOLLOW THE CHANNEL THE TRENDLINE IS JUST DRAWN FOR PREMATURELY TO FOR TESTING PURPOSE -NIFTY MIGHT OPEN NEAR 10300-350 -MIGHT RUN INTO HURDLES
THIS IS THE THIRD PART OF THE ANALYSIS ON NIFTY 2.32% FALL. IF YOU NOT READ THE PREVIOUS ONE 2 POSTS, PLEASE READ THE SAME FOR BETTER UNDERSTANDING. I HAVE ALSO SHARED ITS LINK BELOW. Last time we estimated a big downfall in the month of October and believed that IT Sector might stay in pressure as the results of Tata Elxsi disappointed and Number of TCS may...