Get started

Evening Star

DOUBLE TOP FOR BECTOR FOOD- POSSIBILITY OF SHORT TERM REVERSALBECTORFOOD has fallen to a low of 328 in March 2021 and has been Bullish since then. It has reached a High of  445 in June and has retraced from the resistance zone at 442-452 range to a low of 395. Now it has reached the resistance zone again and has made a Bearish Pin Bar that is half of the Evening Star Candle Stick Pattern. There is also a Bearish Divergence. So short term the pattern is bearish. To go long we have to wait for break of the resistance zone at 442-452 range and wait for a retest and can go long on a confirmation Bullish Candle for Targets of  502.
NSE:BECTORFOODShort
by eastwind65
Hindalco Has Broken Out of Falling Wedge Pattern BullishHindalco has been falling from its ATH of 427.50 from 10th May onwards and has made a Falling Wedge Pattern. It has broken above with good volumes but the point to note is that it has gapped up and made a spinning top like candle in the 1Hr and 2 Hr candles which is half of the Evening Star Candle Pattern. So in the short term it could see a reversal. So it would be prudent to go long only after a retest of the trendline and a Bullish confirmation candle for the following targets. T1-405.50 T2-427.50
NSE:HINDALCOLong
by eastwind65
3
Mentorship InstaView 16 June’21: Indeed an Evening Star
Nifty View: As expected today’s 100 points sell-off from the benchmark Nifty index has lead to an “Evening Star” pattern on the daily time frame. This three candlestick pattern is bearish and suggests further price weakness. A confirmation of this will come once the price breaks below today’s low of 15,766. Do not get too carried away with this bearishness as the index is still in a strong UP trend and these candlestick patterns are prone to failures. Having said this, keeping in mind the nature of today’s sell-off (especially in the final 30mins), an extension on the downside is very much likely for a test of 15,700 or further down. We will get a much clearer and confirmed picture once today’s low gets compromised. Till then it’ll be prudent to stay cautious (as advised since the past few sessions) and wait for better opportunities. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
1
Nifty InstaView 15 June’21: Evening Star?
Nifty View: Benchmark Nifty opened well in today’s session and that's all that it did. There was a dash of some intraday volatility, but overall the index faired well to hold onto the minor gap up with which it opened in today’s session. On the daily chart, we have a possibility of an “Evening Star” only and only if the index opens below 15,836 and stays below. But that is just anticipation. The facts of price support the underlying UP trend and with momentum one can expect further upsides. Price-momentum divergence persists which has so far not lead to any serious damage, but short term dips. Strategically makes sense to stay cautious with an overall positive bias. Banks, especially Private sector banks need to play an important role if upsides from Nifty has to continue. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
1
Hero - Evening Star + Hidden Bearish DivergenceHeromotoco has a very beautiful price action trading in the channel. The stock made an evening star and closed at the value price. It is also showing a hidden bearish divergence. Seems like its ready for the downward cycle! Positional trades: Short below 2750 for 2720, 2700, 2690, 2675, 2650 with SL at 2800 Since tomorrow is expiry, it would be a volatile & risky market ! I'll try to stay in green, exit on signs of reversal and re-enter.
NSE:HEROMOTOCOShort
by raj_rishav
Nifty - Where Does It Goes Next ?Trading Strategy Plan A Buying strictly above 12120-12130 only for 12150-12160 / above 12160 for 12200/12250 Plan B Selling close to 12250 with strict stops above 12275 for targets 12200 / 12150 / 12100 / 11980 Plan C Selling close to 12080-12100 – Strict stops above 12130 for 11980 / 11750 / 11650 & lower targets in days to come Plan D Selling below 11980 for 11750 / 11650 & lower targets. No selling if Index holds or moves above 12000 level.
NSE:NIFTY
by WaveTalks
103