Get started

Candlestick analysis

NIfty Pharma on Bigger TimeframeNifty Pharma index started it's rally after the 2008 crash and top out in 2015. Then it went for a long consolidation till 2020. After analyzing retracement with fibonacci levels I saw that it had took support on 0.618 level and again showed a bullish up move. It crossed it's all time high recently in 2021. Before crossing, sellers tried to change trend but failed and buyers took control lead to forming a bullish hammer and engulfing candle which confirmed a strong rejection. After breakout, for last few months it is in consolidation. These candles in consolidation had formed long lower wicks showing the strong rejections. It's important to see how this month's candle gives closing. In this month one attempt have been failed as wee can see a wick above consolidation zone. And it will confirm the bullish trend. This post is for information purpose only. This is my own analysis should not be consider as calls. Doing analysis in simplistic manner without indicators. Keeping it less complicated. Hope you all like it. Thank You
NSE:CNXPHARMA
by AkshayAdak
WaveTalks- Nifty: Piercing Candlestick PatternWhat Is a Piercing Pattern? ----------------------------------------------- A piercing pattern is a two candlestick price pattern that marks a potential short-term reversal from a downward trend to an upward trend. This candlestick pattern is applicable in any time frame but produces better results on a higher timeframe. The pattern includes the first session opening near the high and closing near the low with an average or larger-sized trading range. It also includes a gap down after the first session where the second session begins trading, opening near the low and closing near the high. -------------------------------------------- Important Pattern Criteria -------------------------------------------- The 2nd session close should cover at least half or 50% of the 1st session candlestick. Getting 50% & above closing into the 1st session indicates- bulls have taken control of the session. ----------------------- Stop Loss ----------------------- Stops should be maintained below low of the candlestick in 2nd session. In current situation – 17587 -------------------------------- Critical Zone -------------------------------- 17590-17600 was discussed in last video idea published as running comment. If critical zone holds then Index has fair chances for a new all-time high once again. ----------------------- Target ----------------------- Target 1- 17700 & Strictly Holding Above 17700- We can expect 17790+ for another new ATH (All-Time High) as Target 2. ---------------------------------------------------------------------------------------------------- Last Video Idea Published on 16th Sep2021- WaveTalks: Nifty- On Cloud Seven ----------------------------------------------------------------------------------------------------
NSE:NIFTY
by WaveTalks
23
Trade what's happening...not what you think is gonna happenAs soon as we see a breakout on the chart we form a basis ( or have a belief ) that the stock will burst and go upside. We should not try to predict the market. Instead, we should wait and let the market tell whether the breakout is false or true. You can crosscheck with other indicators. I personally use PRICE ACTION data i.e. after breakout the upper trend line previously acting as resistance now should act as Support. Risk management - Enter 30% position at breakout, if the trade fails then your loss will be only upon 30% position. If the price respects the upper trend line then you can execute your remaining 70% position. There is a big difference between predictive technical analysis and reactive technical analysis. Predicting is trying to forecast where prices will go in the future and taking trades based on that belief. Reactive trading is based on taking a trade after a signal has indicated the beginning of a trend. The biggest leap to profitability comes when we stop taking trades based on what we think should happen in the market, and instead learn to trade signals that react to what is happening. Note - The market doesn’t care about your opinion. It will go where it wants to go based on all of the participants’ actions. Get in the habit of going with the flow, and avoid trying to predict where the flow is going.
Editors' picks
NSE:SUNTVEducation
by Indrajit08
63
Late night Technical analysis talk - Give me 12 mins if possible👑 Terms used if you don't know : ✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins ✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows ✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts ✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. 👑 Important levels ( also most of it depends on your entry and mindset during trading hours ) ✣ A 1hr close on 685-687 levels can trigger a breakout as explained in the terms section above ✣ Risk of 3% can be taken at the point = 660 points to be specific from entry ✣ Targets can be 1- 722 and 2- 750 for your 5% and 10% up move profit booking of the initiated swing trade 👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :) ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. ☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
NSE:BHARTIARTLLong
by Averoy_Apoorv_Analysis
16