Candlesticksignals
COAL INDIA - 12.11.2022 - BAHAVAN CAPITAL - DIVIDEND STOCK - COAL INDIA after announcing 15 rs dividend.
Even after a good gap up on 11.11.2022
but the stock falling back is really stunning and shocking....
I am surprised bcoz on the Ex date or the Record date the stock will be under selling pressure
but surprisingly before any of these dates such strong selling pressure on a gap up day.
Even though FII Net Buying was 3958.23 Crores and DII Net Buying was 615.54 Crores...
That's why
Even though you cannot predict the Market Movement
Now you cannot even anticipate the Market Movement
Rather only accept the market Movement
Happy Profitable Trading to all....
LIC INDIA - DAY CHART - 12.11.2022 - BAHAVAN CAPITALLife Insurance Corporation (LIC) reported a net profit of
Rs 15,952 crore for the quarter ended September 30, 2022 (Q2 FY23),
from Rs 1,433 crore in the same period last year.
Due to this there could be a surge in investors interest to start accumulating the stock.
If LIC will announce much better dividend than last Qtr Dividend or Bonus Shares then it will bring back the momentum.
Wishing you all a Very Happy Weekend...
Bullish Engulfing: Nifty 50Yesterday NSE:NIFTY had a gap down open, then went below previous day's low and then the sudden buying spike took it all the way up above the previous candle's high and managed to close engulfing the previous candle's body, Classic Bullish Engulfing pattern was formed. The next day will be the confirmation of the pattern. Bullish engulfing is a Reversal pattern.
*It is just my analysis and not buy or sell recommendation.
ADANI POWER - DAILY CHART - 26.09.2022 - BAHAVAN CAPITALADANI POWER as per Daily chart analysis stock Below 358 then Target is 348.
With FII Net Selling 5101.30 Crores and DII Net Buying 3532.18 Crores it looks like FII have begin the selling once again and tomorrow could be an important day to see whether market is able to recover by consolidating forming a Reversal Doji candle in Nifty and Bank Nifty or continue to fall. Lets see whether the market if at falls can take reversal at jun 17th 2022 Nifty level of 15183.
I have Bought Vedanta and will continue to buy more stocks during this correction.
Happy Profitable Trading to all..
Happy Navaratri wishes to All...
VEDANTA - DAILY CHART -23.09.2022 - BAHAVAN CAPITALVEDANTA as per Daily chart Analysis is in the Channel Pattern.
Shareholders of Anil Agarwal-led Vedanta will consider a proposal on oct 11 2022 to transfer ₹12,587 crore from
general reserves to retained earnings for further distribution as dividend to investors.
The special dividend of Rs 12,500 crore is likely to be Rs 33 to 35 per share.
NATIONALUM - SWING TRADING - 19.07.2022 - BAHAVAN CAPITALNATIONALUM is about to Break out and Buy Above 76 and Target 132.
There has been change in the holding patterns in last few days.
and it indicates FII have beginned their entry middle of this month onwards.
18.07.2022 FII Net Holding 156.08 Cr DII Net Selling 844.33 Cr
19.07.2022 FII Net Holding 976.40 Cr DII Net Selling 100.73 Cr
So iam anticipating a uptrend move for this month.
Will discontinue Intraday and focus on Swing Trading.
Happy Profitable Trading to All....
Shooting Star - Complete GuideWhat is the Shooting Star candlestick pattern?
A shooting star candlestick pattern is a chart formation that occurs when an asset’s market price is pushed up quite significantly, but then rejected and closed near the open price. This creates a long upper wick, a small lower wick and a small body.
The upper wick must take up at least half of the length of the candlestick for it to be considered a shooting star. And, it must appear at the top of an uptrend. As a result, the shooting star candlestick pattern is often thought to be a possible signal of bearish reversal. This means an uptrend might not continue (prices may fall).
Traders should be careful not to confuse the shooting star pattern with an inverted hammer candlestick pattern. They both have a longer upper wick and small body. But the inverted hammer indicates bullish as opposed to bearish reversal. Also, the inverted hammer is often seen at the bottom of a downtrend.
How to recognize it:
i) Little to no lower shadow
ii) The price closes at the bottom ¼ of the range
iii) The upper shadow is about 2 or 3 times the length of the body
What does Shooting Star tells you ?
i) Shooting stars signals a potential downside reversal
ii)A shooting star opens and rises strongly during the trading session, showing the same buying pressure that is seen over the last trading sessions. At the end of the trading session, the sellers push the price down near the open.
or
At the buying climax, huge selling pressure stepped in and pushed price lower. The selling pressure is so strong that it closed below the opening price.
In short, a Shooting Star is a bearish reversal candlestick pattern that shows rejection of higher price.
Before trading with the shooting star, one should remember the following points:
Trade Entry: Before you enter a shooting star trade, you should confirm that the prior trend is an active bullish trend. Entry is below the Shooting Star candle low.
Stop Loss: Place Stop Loss just above the high of Shooting Star candle or above recent high.
Taking Profits: Minimum target is the size of the Shooting Star candle. I generally prefer 1:2 as first target. Best way to ride the move is to sit till any bullish signal is sensed. You can target previous swing lows or support zone.
Examples-
TATAMOTORS
NIFTY
NAUKRI
High Probability Scenario:-
i)Focus on the major Resistance levels, that’s where traders get trapped
When you trade The Shooting Star candlestick pattern, you want to focus on trading the major Resistance levels (the ones which can be seen on the higher timeframe).When a level is obvious and the price breaks out of it, many traders will hop on the bandwagon and buy the breakout (hoping to catch a piece of the move).However, if the price makes a false breakout, this group of traders is trapped, and their stops will trigger strong selling pressure.
Now, this is to your advantage because The Shooting Star candlestick pattern allows you to trade the false breakout and profit from “trapped” traders.
So the more obvious the level, the more traders will get trapped — and you make more money.
Conclusion
So here’s what you’ve learned today:
The Shooting Star candlestick is a bearish reversal pattern that shows rejection of higher prices.
Just because you a spot a Shooting Star candlestick pattern doesn’t mean you go short immediately because you must also consider the context of the markets. Confirmation to go short is always below shooting star candle's low.
Set your stop loss slightly above shooting star candle or above previous highs.
Price Action Analysis with Candlesticks(Part-1)
Price is the cumulative result of all market information. Hence, technical analysts use price charts and chart patterns in their market study. candlesticks have become the most popular chart type for price action analysis.
we have 3 methods to identify price action with candlesticks.
1.One Price Bar (Pin Bar)
2.Two Price Bars (Inside and Outside Bar)
3. Three Price Bars (MS and ES)
In this post we discussed about One Price Bar only. we can post Remaining 2 concepts later.