It is been observed on the daily chart that the price action forms a bullish Marubozu candlestick pattern with a breakout from a downward trend line indicating buyers dominance over the price action and control over prices. It shall move further up to next resistance levels.
Target 1: 332
Target 2: 340
Stoploss: 312
Long Lower Shadow candlestick pattern and OI analysis also positive sign for Long.
OI Analysis:
Price - UP
Volume - UP ( +17 lks volume high compared with previous day traded volume)
OI - UP (+30 %)
Market - ** will update on trade day**
Trade:
Buy abv - 1147
Target - 1167
Stop Loss - 1130
Reward Points - 20
Risk Points - 17
It is been observed on Weekly chart that the price action forms a bearish pin-bar candlestick pattern indicating rejection of higher price action and seller dominance over price action. Now, it shall further move down to next support levels.
Target 1: 800
Target 2: 750
Stoploss: 880
It is been observed on daily chart that the price action forms a Bearish Pin Bar Candlestick formation indicating Buyers exhaution and Sellers taking over the price action. It shall further put the price action down to previous support levels at around 74.
Target: 74
Stoploss: 79
It is been observed that there are some candlesticks pattern which describes the sentiment and movement of buyers and sellers in the market. It is observed that when a Green Bullish Candle with no to little wick in bottom found after a downtrend indicates a buyers come back with full dominance over price action as there will be no lower wick which means no selling...
Morning Star candlestick formation on Weekly chart of Century Tex, which is giving bullish trend for short term.
It's a short term recommendation.
Trade:
Buy Above = 813
Target 1 = 906
Target 2 = 978
Stop Loss = 747
Reward Points = 165
Risk Points = 66
" Happy Trading "
One can buy the stock for a target of 990. It is coming out of oversold zone made engulfing and the earlier engulfing made on 16.11.16 clearly holding the price. It seems good entry at current with affordable stop loss.
It is been observed on daily chart that the price action forms a Hammer candlestick at the support levels where price action was picked up from the day's low to end near the high or open of the day, indicating a bullish come back at crucial support levels. Now, it shall turn up to around 61 levels which is 23.6% Fibs retracement levels.
Target: 61
Stoploss:...
The stock is getting support at up sloping trend line. Probably we can use this pull back for entering a long at this level. My idea has following justification
1. closed out of downtrend regression channel
2.Made an engulfing covering the previous candle completely.
3. Trend line support.
4. Mostly at this level of RSI it changes the trend.
5. Trend reversal...
Tri Star candlestick is an extremely rare pattern . In my 10 years of trading experience i found only one in EOD stock charts nifty stocks allowed in Future. Since it happened to me only once I have no prior experience of its performance however one can short the stock with very small stop loss of the 432.50 on closing basis.
The chart has made a Cup with handle pattern but getting overhead resistance before reached the target. It has also formed beautiful triple drive on the top pattern and bearish engulfing in the last bar, therefore I would recommend to short it at current level with stop loss just at the high made a bar ago(on closing basis). With little bearish strength it could...
Doji candle formed at the supply zone suggests a short entry at this level. I would look for a short if it trades below 50.45 level tomorrow with stop loss of the high made in the recent bar. By risking this small Stop loss I would look to take profit 2.5 - 3 times of it. Happy trading!
On weekly Chart, it is been observed that there is a formation of Gravestone Doji candlestick that indicates bearishness. It forms in uptrend market to suggest change in trend. As showed in the chart, Nifty -0.96% is been trending up forming new upside breakouts and waves for a while, it is been now observed with a Gravestone Doji, that indicates change in trend...
On hourly chart, it is been observed that the price action forms bearish Pin-Bar pattern that indicates rejection of higher prices and weakness. It also states that there is high selling pressure from sellers that shall take the price down. It is also important to note that there is a GAP on hourly chart that shall be filled during the weakness. Therefore, it will...
In the above chart, I have marked two candlestick patterns, Dark Cloud Cover and Piercing Pattern and describe their fundamentals. It is been drafted for educational purpose.
Today, the price action took the prices to the previous support level of 47.45 where the buyers entered in the market and took the prices up again to close to day's open. It formed a bullish hammer that indicates rejection of lower prices and high buying pressure. To confirm this formation we shall see a green upside candlestick aiming to reach 53 levels which is...
It is been observed that the selling pressure is high due to which buyers are having hard time to pick up the prices. Previously the bearishness was confirmed by the formation of PINBAR Candlesticks pattern that indicates weakness and rejection of higher prices. Therefore it is a good time to short at current levels for target 1240 Stoploss 1351
