Candlestick analysis focuses on individual candles, pairs or at most triplets, to read signs on where the market is going. The underlying assumption is that all known information is already reflected in the price. The technique is usually combined with support & resistance. Each candle contains information about 4 prices: the high, the low, the open and the close. A candle body reflects the net price movement between open and close while the wicks show reversals that occurred within the timeframe of the candle.
Each candlestick, therefore, provides an easy-to-decipher picture of the price action. The length of the wicks versus the length of the body in combination with whether a candle is bullish or bearish, can be used to determine a signal for the price action to come. Common candlesticks that are used in this analysis are dojis, spinning tops, hammers, engulfing candles, pinbars and inside bars.
Pattern sell entry @ 279.10, Confirmation if stays Below 278.70 for 30 mins.
Definition:
This is a five candlestick pattern that starts with three strong white candlesticks. The uptrend continues with the fourth higher close. The next day gaps lower and closes much lower than the previous day or two. This may imply a bearish reversal.
Recognition Criteria:
1. ...
In UP Move @ 282.10 looks Crucial. Closing Above that Trend Reversal Confirmation.
Candlestick Pattern: BULLISH LADDER BOTTOM.
Pattern Details:
Definition:
This is a five candlestick pattern that starts with three strong black candlesticks. The downtrend continues with the fourth lower close. The next day gaps higher and closes much higher than the previous day ...
As on 18/09/18, Bank Nifty is in downtrend as per candlestick pattern and also moving averages. Crucial Resistance level is 26644.36 and crucial support is 26363.54. If it breaks 26390 then sell bank nifty for target 26302/26131/26041 with stoploss 26500. Also, Bank Nifty is forming bearish engulfing in monthly time frame.
Stock has formed bullish Wolfe wave that offers a good trade with small risk and if works and achieve the target it has potential of 4 times the risk being taken. Details are as under
Entry 53.6
SL 52.2
Target 57.6
RR 4
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Last Candle: Hammer (Bullish Reversal)
Here formed after a long body Bearish Candle(11/08/2018)
Matching LOW @ 737.30 on 13/07/2018 & @ 731 on 12/08/2018 (Generally BULLISH)
........ Rest details plotted & mentioned on Chart.
Education purpose only.
Escorts has made 3-Inside bar setup and trying to hold its support zone as per OI data.
its a good opportunity to enter into cash for long term, Please follow Fib levels for Support & Resistance
