Banknifty analysis - logic and planEXPLANATION : This is a 15 min time frame chart of BANKNIFTY . It has been consolidating at previous Resistance zone and formed the Evening star pattern . ( An Evening start is a candlestick pattern that is used by traders for analyzing when the uptrend is going to reverse to a downtrend ) If give a strong breakdown and continue his pattern , I am bearish on BANKNIFTY . If give a strong breakout and retest ( Resistance become Support ) , I am bullish on BANKNIFTY . Levels are marked in chart , enter as per your setup .
Eveningstardoji
SBIN - evening star pattern As of my idea SBIN stock is formed an evening star pattern which is opposite of morning star or morning doji star. Evening star pattern is fully a bearish kind of pattern. Doji has been formed after the support candles for the past few days. so i comes with conclude of my idea that this is the good time to invest.
Doji: Doji is the one of the candle which is formed when open and close stock market price as same state. it looks like plus (+)
Important Disclaimer:
I am not influence anyone to buy/sell any stocks, just sharing my thoughts and views. i am not responsible if my idea goes fail. It was fully educational purpose.
Levels for - 27 Sep 2021EXPLANATION : This is a 1 hour time frame chart of HDFCBANK . It has formed Evening Star Doji Pattern , It signal a more bearish trend than the evening star pattern because of Doji that has appeared between the two bodies .
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DLFIn daily time frame it has made an Evening Star Doji with a negative RSI divergence. It faces resistance at 215 and support now comes in at 195-190. View negates above 222.
Evening Star Doji is formed in an UPTREND, 1st candle is bullish one , 2nd candles is a DOJI candle above the body of the previous candle and 3rd candle is a bearish one below the DOJI candle and closing below the midpoint of the 1st candle (bullish one )
Negative RSI Divergence happens in an UPTREND when the stock/index makes a higher high but the RSI fails to do so making a lower high and curls downwards.
SBI to reverse after an evening starSBI formed an evening start after an uptrend and is likely to fall till the next strong resistance.
Initiate short calls.
Sell at 193.5. Target at next resistance, ie, 182. Stop loss at 50 DMA, ie, 197.
NOTE: Supreme court to have a hearing on the interest waiver case. NSE:SBIN