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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
Price Action and Fibo SetupStock have given breakout with above avg. volume. The candles which have formed in last few sessions are bearish but looks weaker as there is continues decrease in volumes. This means sellers are not that powerful at these levels now. While using Fibonacci, applying top to bottom, I see that it have tested 0.61 level. Which means there's high probability of trend reversal. Yes, it's strong fibo resistance and hard to break it with first attempt. It did took resistance and now retraced. This small pullback can generate a good potential to break the resistance. Also bullish engulfing at bottom. These are the multiple points that I saw. This is risky setup cause 1) it's very smallcap 2) Not very good breakout candle. This analysis is done by me, all on my own. This post is for information purpose only, don't consider it as call. Just sharing what I see on charts.
NSE:LIKHITHALong
by AkshayAdak
How to identify Breakout - Price ActionFor the purpose of demonstrating how one can identify a trend change using Support - Resistance and Price Action, I have taken the daily chart of IEX. I had also identified and posted about it before the recent rally. The first step is to establish a clear support and resistance line. In case of a breakout, I like to keep my target at around the same price difference range between old support and old resistance after it bounces from the resistance. The crucial thing lies in identifying the candlestick pattern around the support - resistance. In our case, when the price first hit the resistance, it formed a clear Bearish Engulfing and the next time, it formed a healthy dark cloud cover followed by an engulfing. These are clear red flags when a trader should start booking profits. Similair bullish patterns can be identified at support region like the Morning Star pattern as in the above chart. In order for the price to give a breakout, Volume & Momentum play a very crucial role. A rising volume with price rise builds momentum, and increases the chances of a breakout. Another important observation is to see HOW STRONG did the PRICE BOUNCE from the support. Long wicks, very less or almost no consolidation around the support and a bounce back from an area above the support instead of retracing all the way back to the support are clear indications of trend reversal from Bearish to Bullish. Also notice how the candle formed a Morning Star during the bounce, this further strengthens our conviction that the trend is changing. Observe how the red candles grow smaller and smaller as they approach support, this indicates weakening of the bearish momentum. Also the Resistance was approached in a very aggressive foray this time with clear long green candles indicating a very strong pent up demand. I hope this analysis provides some insight into how the Price action gives an early indication of the future price movement. Thanks for reading! Keep Learning :)
NSE:IEXEducation
by Aayush_Rungta
36
TOP/BOTTOM REVERSAL CANDLE PATTERNSHi Its been a while since my last post. In this post I have represented selective candlestick reversal patterns. In a candlestick, "body" represents the distance between candle OPEN and CLOSING price. Whereas "wicks" represent the entire range of the candle from TOP to the BOTTOM. In most of these patterns only bodies are important. There are no conditions for wicks unless specifically mentioned like in abandoned baby star and (first two candles of) shooting star pattern. In an abandoned baby star pattern the wicks of the second day should not overlap with the wicks of first and third day. But there can be wick overlapping in morning and evening stars where the condition is for bodies only. Similarly in shooting star, the second day should not overlap with the first day (not even wicks) whereas the third day may have some overlapping. One should always try these patterns with some sort of confirmation in the form of volume or overbought/oversold scenarios etc. While taking a trade based on these patterns one should follow money management and trade management principles. I hope this post will update your knowledge in one way or the other. Do not forget to like and comment (for any doubts) to encourage writing on trading view. Regards JJSingh
NSE:NIFTYEducation
by Bravetotrade
41
Elgi Equipments ELGIEQUIP - Positional Trading I have based my analysis on Stan Weinstein's framework on Weekly chart where price structure, 30 weekly MA, volume and relative strength (not RSI) play a role in analysing the trend. Personally, I like stocks near ATH because it tells me that prior resistance has been broken. It is important for me to select stocks that have strong relative strength against a particular index such as Nifty Infra in this case (Elgi makes compressors and they are capital goods for industry) or Nifty 500 the broader market. The area where price is moving up (marked with a green upward arrow) is defined as Stage 2 structure according to Stan Weinstein. After this, we see a Stage 3 structure marked with a black box. During Stage 3 structure, price is rangebound and this period can be for many weeks or months. Remember, this is where we lose TIME. And for traders (and also Investors), TIME is important. I have marked a breakout candle (in orange) and that is where I like to enter provided I see confirmation on volumes (marked with orange in the volume histogram). Stan Weinstein says Positional Traders should ride the trend and exit stocks only when they start trading below the 30 weekly MA. He further says not to buy in LH LL structure because there is no way one can tell how far or how long can the fall be. See for yourself how often stock stays lower. The breakout candle of 10 August 2020 is of importance. Note the volume expansion. Also note that retracement is till the mid point of the 10 August 2020 candle and stock does not fall anymore. The candles of 9 November 2020 and 7 December 2020 are also very important. The latter breaks prior pre-pandemic resistance. Around this time the Relative Strength of the stock starts outperforming against the broader market i.e. Nifty 500. Analysis is easy on hindsight. What would I do if I were to take a buy call now? I will go long only when I see a breakout candle (marked in orange) confirmed by Volumes. Because Nifty is near ATH and in Stage 3 structure, there are two things that might happen. It may again start a new Stage 2 structure or form a Stage 4 structure which is start falling from the box. Hence in a market like this, I would shift to the Daily chart, add a 50 Daily MA and if the stock breaches 50DMA and goes lower, I will exit 50% of my holding. And if it breaches the nearest swing low, I will exit completely- the candle of 27 May 2021 on Daily chart. This is a variation from Stan Weinstein's framework. Disclaimer- This is not an investment or trading buy/sell advice. The purpose is to share knowledge and learn from the community. I am not invested in the stock as on date.
NSE:ELGIEQUIPEducation
by culturalDealer79974
2
TATA Steel The frypan bottom occurs when small real body candlesticks slowly move downward and then move in a neutral to upward direction. The frypan bottom pattern is complete when a bullish candlestick gaps up from the rest of the candlesticks. Tata Steel Going sideways for few Days and now ready to give BO Trade only if stock is giving Gap up or gap Down Opening Targets can 1358 to 1400 for short term with Sl Below the candel Low. If share Gaps Down can sell the share with SL 1249 On closing basis.
NSE:TATASTEEL1!
by Pro_Trader_GRV
NIFTY WEEKLY ANALYSIS (23/7/21)Key takeaways: Nifty opened this week with weak global cues relating to covid and fell first two days, then there was global recovery, so our markets recovered as well (Range- 15600-15950) Nifty took support from the long term lower trendline Still Nifty is in the trading range of 15600-15900, below with 15300 is very strong support Resistance and lower trendline has almost converged, can break either side, (good / bad quarterly results will help decide direction Broder market action was observed within the week.
NSE:NIFTY
by Stockupy
BANK NIFTY ANALYSIS FOR 15-07-2021 Do not trade in between 35805 - 35640 . Buy Above 35805 for the Targets marked on Chart Sell below 35640 for the Targets marked on Chart Make entries only when the price action is suitable respecting to the trendline Take Entries when Market sustains above / below our levels Avoid entries , if there is a Huge Gap Up / Gap Down Take Entries as per Price Action ** Only for Educational Purposes ( As you all can see our daily Analysis , Bank Nifty is respecting all our analysis with treadlines and Support & Resistance Lines ) PLEASE DO LIKE , COMMENT OUR POSTS .
NSE:BANKNIFTY
by ULTRA-TRADER
Late night Technical analysis talk - TCS, HCL, INFY👑 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. ✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock 👑 Important levels - explained well 👑 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.
NSE:HCLTECHLong
by Averoy_Apoorv_Analysis
22
Rising Three Methods in the Nifty Futures 30 min chartAfter making a good excess low around 11 a.m. - seen in the chart as a doji with a long lower tail, Nifty Futures rallied higher and made a breakout around 1 p.m. - see the strong green candle with higher volume. Thereafter till 2.45, it made three small red candles on lower volumes as compared to the big green candle. The three candles were all within the range of the big green candle. After 2.45, it made a fresh rally on higher volume- as seen by the long green candle which closed above the high of the previous long green candle. It formed a classic 'Rising Three Methods' - a bullish continuation pattern. One can add or initiate longs with a stop loss below the low of the first green candle.
NSE:NIFTY1!Long
by shivaq