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KCP Ltd. Bullish Inverted H&S BreakoutHi, An inverted Head and Shoulder pattern is emerged on the Daily Chart of NSE:KCP with good volume. One can create a fresh position in the scrip at 115 with SL of Rs. 105 on closing basis for 1st traget of 125 and 2nd target of 235. The risk to reward ratio is 1:2 Exit the position if the stop loss is triggered on DCB. DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME. I AM EAGERLY WAITING FOR YOUR COMMENTS ON THE STUDY... Disclaimer: Content shared is for information and education purposes only and should not be treated as investment or trading advice. Please do your own analysis or take independent professional financial advice before making any investments based on your own personal circumstances. Investment in securities are subject to market risks, please carry out your due diligence before investing. And last but not the least, past performance is not indicative of future returns.
NSE:KCPLong
by raigvivek
Inverted Hammer in Monthly Chart** The shooting star candlesticks pattern, also known as the Pinbar (or bearish pinbar/inverted Hammer) by some, is one of the most popular candlestick patterns among price action traders. It was the first candlestick signal that I relied on, and one that I still use today, although I trade it much differently than most other price action traders. # What is a Shooting Star Candlestick Pattern? *The shooting star consists of a long upper wick (shadow) that is, at least, twice the size of the real body. It should have a relatively small lower wick or none at all. Its real body can be bearish or bullish (see in the chart) and is usually relatively small in comparison to previous candlesticks. *The shooting star candlestick pattern, like all the other candlestick entry signals, must be traded within the context of the market. In other words, a true shooting star candlestick signal can only come after an uptrend in price (see the chart). Note: Never trade a candlestick formation that looks like a shooting star from consolidating price action or a tight ranging market. A shooting star candlestick pattern is a strong reversal signal, and unlike most other price action signals, this one does not need another candle for confirmation, according to the standard trading technique. However, the proprietary filters that I personally use to qualify a good shooting star are quite different, so let’s go over those now. #What Makes a Good Shooting Star (Pinbar/Inverted Hammer) Pattern? ** Some of the filters that I use to qualify a good shooting star make taking the entry completely different than the standard method. In my experience, these filters have drastically improved my strike rate with the shooting star candlestick pattern. # Confirmation Close The first filter that I want to talk about is the confirmation close. This is probably the most important filter that I use on the shooting star, and it’s also the filter that changes the way you must take your entry with this pattern. Basically, as a sign that the uptrend is actually ending, after the shooting star signal, you want to see a bearish candlestick that closes below the real body of the previous candlestick and You can add in your strategy for more accuracy. ** Historically in Nifty 50 when in monthly chart Pinbar/shooting star/inverted hammer appears at top that sign of bearish trend .(see in the chart) Kindly Let me know if you have any questions. Thank You
NSE:NIFTYEducation
by Investorsdoctrine
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