Dark Cloud Cover is a bearish reversal candlestick pattern where a down candle (typically black or red) opens above the close of the prior up candle (typically white or green), and then closes below the midpoint of the up candle.
The pattern is significant as it shows a shift in the momentum from the upside to the downside. The pattern is created by an up candle...
- Dark Cloud Cover formation at the resistance.
- Bearish Divergence Confirmation
- Failed to make a Fresh High
- Retracement or Reversal - Time will tell.
Introduction
In the world of financial markets, technical analysis plays a crucial role in understanding market trends and making informed investment decisions. One powerful tool in this domain is wave analysis, which has proven its accuracy time and again. In a recent BankNifty analysis, wave analysis beautifully predicted the index's movements, providing...
If we talk about Dawat Limited, the market is seen in an up trend and there is a good movement on the upward side as buyers come into it.
A channel provides support and resistance and creates higher highs and higher lows.
A dark cloud cover pattern is seen and then the market moves to the downside.
A level of 108 represents strong support and a level of 134 ...
Last week, we saw a huge sell-off, that resulted in the formation of a shooting star. Such a pattern has major implications if it is seen at top of the trend. It depicts sentiment reversal.
Last, to last week we saw a dark cloud formation, now the following candle is a shooting star.
It clearly shows the overall sentiment.
Same thing you would observe if you see,...
It is formed by two candles, the first candle is bullish candle which indicates the uptrend.
The second candle is a bearish candle which opens gap up but closes more than 50% of the real body of the previous candle which shows that the bears are back in the market.
Pattern has created the range of 17500 to 17900.
Bulls are again trying to take control....
Dark Cloud Cover Is A Candlestick Pattern That Shows A Shift In Momentum To The Downside Following A Price Rise. The Pattern Is Composed Of A Bearish Candle That Opens Above But Then Closes Below The Midpoint Of The Prior Bullish Candle.
Buy Polycab Above ~ 2245 With Stop ~ 2150, Target ~ 2550, 2650, Short Term Trade.
On a daily chart, Cipla has formed a dark cloud cover pattern near its resistance. RSI shows a descent away from the overbought zone back into the middle, giving us a leading indication that the stock might correct. The trade should only be executed if; 1) The volumes are slightly higher than the average of the past 7-10 days because that is when the maximum...
As per my view, NIFTY is forming dark clouds on weekly time frame if we get confirmation below 15700
and we can see double top of nifty also and the neckline is around 15492
we can see targets of :
1: 15683
2: 15492
3: 15244
Thanks
MGL is at a crucial point with multiple signs of movement and we are tracking a little ahead, hence it can go up or down basing on the next candlesticks
Reasons/Traits :
• 20 EMA crossing 50 EMA from below
• Daily trend is at resistance/supply zone
• Inverted head and shoulder formation can be seen (Chances of going up)
• Descending Broadening Wedge pattern can...
Will Tata Motors continue its rally ???
Reasons/Traits :
• Bullish Bat harmonic pattern was seen, now retraced back until point B and got rejected today
• Bullish Crab harmonic pattern was seen and it retraced completely
• 20 EMA touched 50 EMA today
• Good strength in RSI and strong uptrend is seen
• Last two candles form dark cloud cover
• Currently showing...
Short term Swing trading opportunity in Infy
Reasons/Traits :
• Bearish Butterfly pattern formation yet to form
• Dark Cloud Cover candle formation seen today
• Symmetrical Wedge pattern formation is seen – Break out or Break down can happen in this formation for an intraday/short term swing trade
• Price is under 20 SMA with decreasing volume
What can happen...
Tatapower rising contracting wedge pattern fromation on 240 mins time frame,, dark cloud cover formation on daily and 240 mins time frame,,, bearish divergence on rsi and macd,,, good to fo short at cmp
down side counter can give 15-20% fall,,,
Good short candidate
Nifty View: Benchmark Nifty index opens strong to hit a new life in today’s session. The close however was disappointing - slipped significantly from its intraday high of 15,930 to post a close at 15,854. Under Japanese Candlestick parlance, the last two days price behaviour is termed as a “Dark Cloud Cover”. Yes, the name is a bit depressing especially for those...
