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Candlestick analysis

Sunpharma Sellers Activated Target 455 to 450 Sell below 460We had give a call on 30th May sunpharma that it has a stiff resistance at 483. Stock moved from 474 to 483. Today the stock reached 483 and reversed as per our analysis. Today, If you see daily chart of sun pharma the candle formed is of exact size of 30th April will almost same low high and open and close. what does it indicate.. it indicates that the sellers has been activated from todays high last time the sellers were managed to push the stock down from around 665 tp 448 in just a matter of trading sessions. The interesting thing about the candle formed is the volume. It indicates the same amount of volume that was on 30th April 2020. it simply indicates the sellers are in control like last time. like last time, this time sellers may try to push the stock to 450 levels we would suggest you to sell below 460 it with trailing stoploss If you look at the analysis of wipro on 30th may. we had given the same type of candle was formed and we had given target which was above resistance level and it easily achieved the target of 220
NSE:SUNPHARMAShort
by SherBazaar
2
We have an immediate support at 12130 levelsThe index bounced back today after correcting during the week. As mentioned that the narrow range candles have created value area which will act as resistance in the coming weeks. The weekly candlestick pattern is not very encouraging for bulls. We have an immediate support at 12130 levels, Nifty is expected to hold on to this to maintain the gains. Above this level Nifty is safe and can move up to 12340, 12410 & 12450. Nifty may face major hurdle at 12340 levels. As the budget sessions gets closer we may expect a surge in volatility and wild swings.
NSE:NIFTY
by BharatJhunjhunwala
The stock may meet immediate resistance at 1340 levelsA decent move was noticed in Larsen & Turbo this week. The prices closed above a previous swing, RSI has moved into neutral zone from a bearish area while MACD has moved above zero level. These point towards strength in the counter, with expectation on infrastructure expenditure allocation in budget a up move may be triggered in the stock. The stock may meet immediate resistance at 1340 levels, price action needs to be watched there. Above which the stock may move to 1420, 1450 levels. While 1345 -1330 may provide support to the price below this the stock may fall to 1290 – 1270 levels.
NSE:LTLong
by BharatJhunjhunwala
NIFTY VIEW for 5/NOV/2019Today We saw a mixed day, by EOD we saw the rejection from upside and it is reflected on the daily chart. Our levels worked very well today too. What Next? Today it has formed a shooting star kind of candle but not perfect, basically we consider this candle as sign of reversal when market traded near to the resistance zone. But nowadays sentiment is positive then I am also expecting it to hold 11950 level and go high at least 12000. But if it breaks below 11900 then we should look for 11850 and this is the again good buying point.
NSE:NIFTY
by pravinmangalam
BHEL in The IslandBhel Looks Portfolio Stock Because • Positive Divergence (RSI) • Timing wise already consumed 12 years which is more than 7-8 years rally from bottoms of 11 to 390-400 zone going into 2007-2008 Financial Crisis Period • Key Reversal Candle from lows of 40’s is confirmed recently. Short term Trading Strategy Plan A - Buy above 61 for 77-80 Target zone Plan B – Sell below 55 for 49-50 / If holds below 48-49 can slip further downside to 45 Thanks for watching the video & your support.
NSE:BHEL
by WaveTalks
49
Nifty View 30 May 2019Nifty Daily chart finds a confluence of 2 different bearish candlestick pattern. First the Hanging Man which formed one day prior to last, low of which was breached. This implies that there is potential in this Hanging Man pattern to work and maybe drag prices on the downside. Second, if we consider the last three candles, then an Evening Star shapes up, and its a pretty clean setup. So essentially, we are looking at two bearing pattern confluences together which can lead to some profit taking. Trigger of fresh selling will come only below yesterday's low of 11,835.
NSE:NIFTY
by Abhijit_Paul