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Candlestick Analysis

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.
raj3elite raj3elite ONGC, D, Short ,
ONGC: Short on ONGC
36 0 4
ONGC, D Short
Short on ONGC

Dark Cloud Cover candle formation on EOD. Trade Levels: Short at - 171.25 Target 1 - 169.75 Target 2 - 167.85 Stop loss - 173.25

NeeteshJain NeeteshJain TOP SBIN, D, Long ,
SBIN: SBIN - Breaking above consolidation
1084 7 46
SBIN, D Long
SBIN - Breaking above consolidation

It has been observed that the price action was consolidating at the support levels and now it breaks above the consolidation indicating buyers coming back strongly and pushing prices up. T1- 261 T2-268 SL 248

GSKASAR GSKASAR TATAELXSI, D, Long ,
TATAELXSI: #TATAELXSI - Morningstar pattern formation near imp support
68 0 3
TATAELXSI, D Long
#TATAELXSI - Morningstar pattern formation near imp support

TATAELXSI has morning star pattern near important support level.

NeeteshJain NeeteshJain TOP AJANTPHARM, W, Long ,
AJANTPHARM: Ajanta Pharma - At Turnaround Levels with Sound Fundamentals
384 3 19
AJANTPHARM, W Long
Ajanta Pharma - At Turnaround Levels with Sound Fundamentals

It has been observed that the price action was deeply pushed down without much change in the fundamentals of the company. It may just be called as healthy correction and now the correction reached to a strong support zone which has been previously tested, therefore there is high possibility that the buyers will come at current levels and will further control over ...

NeeteshJain NeeteshJain TOP INDIGO, D, Long ,
INDIGO: Indigo - All set to Detour
963 33 38
INDIGO, D Long
Indigo - All set to Detour

It has been observed on the daily chart that the price action continuously dips down for last one week and now in last two trading session, we have noticed a turnaround in price action which is a signal of a bounce back or a detouring of price action as buyers take over the pilot cabin. Now, a positive movement can be seen to 1100 levels if the price action closes ...

naitikgolakiya naitikgolakiya FEDERALBNK, D, Long ,
FEDERALBNK: Federal bank Rectangle Breakout ....
76 0 4
FEDERALBNK, D Long
Federal bank Rectangle Breakout ....

You can check that federal bank has given breakout on Rectangle . You can go long once it retest the breakout line .

NeeteshJain NeeteshJain TOP ADVENZYMES, W, Long ,
ADVENZYMES: ADVENZYMES - Bottoming Out
799 7 37
ADVENZYMES, W Long
ADVENZYMES - Bottoming Out

It has been observed that the price action was trending down for past 5 months and now, it showed a strong volumes at support levels indicating a buyers coming back. It has another resistance at 280 levels, if it breaks and closes above it on weekly chart then it shall confirm a change in trend and will further rise up. Target 1: 280 Target 2: 320 Stoploss: 245

raj3elite raj3elite NIFTY, D,
NIFTY: Crucial turning point of Nifty
263 4 10
NIFTY, D
Crucial turning point of Nifty

As per Fibonacci, Nifty lying on 61.8% important turning point and having Doji pattern. Which way the Nifty will travel ? Either Doji will indicate the direction nor Fibo will get retracement ? Level for Long - If Nifty on long side, it will travel upto 10080. Level for Short - If Nifty on Short side, it will fall upto 9880.

NeeteshJain NeeteshJain TOP HDFCBANK, D, Short ,
HDFCBANK: HDFCBANK - Trending Down
733 8 27
HDFCBANK, D Short
HDFCBANK - Trending Down

It is been observed on the daily chart that the price action is forming lower highs and lower lows from Higher Highs and Higher lows, indicating a change in trend. It is further dip down and next support levels. Target 1- 1725 Target 2- 1700 SL - 1775

turtlemove turtlemove INDIGO, D, Short ,
INDIGO: Indigo doji
77 2 7
INDIGO, D Short
Indigo doji

Indigo price study for next day and upcoming weeks Doji on daily chart. Price levels for paper trade

anuragcoma15 anuragcoma15 PRO FEDERALBNK, D, Long ,
FEDERALBNK: Federal - Moving towards the upper bound
90 1 2
FEDERALBNK, D Long
Federal - Moving towards the upper bound

NSE:FEDERALBNK federal bank has started moving back to its upper bound The stock is also moving towards builing a bullish triangular pattern. Once the top (121.5) is broken stock will go for breakout Buy Federal Bank above 114 Target 119 and above SL 111.30

santhu404 santhu404 CANFINHOME, D, Long ,
CANFINHOME: CANFINHOME bounce from medium term support
36 0 2
CANFINHOME, D Long
CANFINHOME bounce from medium term support

CANFINHOME stock price bounce from the medium team support zone 508/538 ready for target of 650+ by keeping stop loss below 473. 1. we can RSI divergence. 2. MACD is positive. 3. RSI above 50.

GSKASAR GSKASAR ICICIBANK, D, Long ,
ICICIBANK: #ICICIBANK - Reversal Candidate
51 0 4
ICICIBANK, D Long
#ICICIBANK - Reversal Candidate

ICICIBANK has taken support near 264 which is its earlier resistance area and has formed morning star pattern. It needs to close above 272 for confirmation for trend reversal. It it sustains above 272, then 300 looks possible. Below 264, pattern failure.

Niftymovers Niftymovers LICHSGFIN, W, Long ,
LICHSGFIN: LIC Housing, Bouncing from support level.
30 0 1
LICHSGFIN, W Long
LIC Housing, Bouncing from support level.

Weekly chart. Hammer after downtrend @ support level. Bullish candle after the hammer. Good risk reward ratio. Target 750 in 6-8 Weeks. Stop (Exit) below 595 on weekly candle closing basis.

anuragcoma15 anuragcoma15 PRO OIL, D, Short ,
OIL: OIL India - A good doom!
72 0 6
OIL, D Short
OIL India - A good doom!

OIL india had a good up-journey and is now ready for possible major consolidation. OIL india generated a nice bearish engulf followed by a sense of confusion in the stock Short OIL India CMP - 350 Short below 345 (risk takers can short right away) Target - 339 / 323 / 295 SL - 360 (people who are looking for smaller SL can keep it at 355)

anuragcoma15 anuragcoma15 PRO ASIANPAINT, D, Long ,
ASIANPAINT: Asian Paints on the the move
60 0 4
ASIANPAINT, D Long
Asian Paints on the the move

Asian paint has just started the steps towards its upper bound. Asian paints also made a shooting start in its last session giving a bullish indication from here. CMP - 1157 First target/resistance 1185 Once 1190 is broken it will shoot to 1260 and above SL - 1142

ParamjitMahapatro ParamjitMahapatro TITAN, D, Long ,
TITAN: titan looks bullish in short to medium term
95 0 7
TITAN, D Long
titan looks bullish in short to medium term

in daily, price bounced from ascending channel support after forming hammer. hidden bullish divergence seen here https://in.tradingview.com/x/aVN3rO4W/ sl - 579, tgt1 - 645, tgt2 - 680

shyam.sega shyam.sega HINDPETRO, D, Long ,
HINDPETRO: Hind Petro - Bounce from its support
110 0 7
HINDPETRO, D Long
Hind Petro - Bounce from its support

Hindpetro has bounced from its support with big surge in the volume forming hammer in daily chart. One can go long above 429 T1 - 444 T2 - 473 SL - 402

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