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Morningstardoji

Reliance - Classic morning star pattern formationReliance Industries Ltd is trading in a price range of 2200 - 2800 since Sep 2021. In between this a strong support and resistance formed where 2200 act as a support and 2800 as a resistance. Last week a bullish candlestick pattern formed in Reliance called Classic Morning Star at support level. Here are the characteristics of a classic Morning Star pattern: 1. The first candle is a long bearish candlestick, indicating that the bears are in control of the market. 2. The second candle is a short candlestick that gaps down from the previous day's close. This candlestick is also known as a "Doji" and represents indecision in the market. 3. The third candle is a long bullish candlestick that gaps up from the previous day's close. This candlestick represents a shift in momentum from the bears to the bulls. Morning star candlestick with inverted hammer at support level indicating a lot more.
NSE:RELIANCELong
by Arvind_Share_Academy
1
Morning Doji Star in TCS.After the result date TCS has fallen with a gap down, since a downtrending market is in place. With a long bearish candlestick, which is followed by a Doji Star shows an indecision and gives a sign of possible trend reversal. Just like the regular Morning Star, confirmation on the third day fully supports the reversal of trend. This type of Morning Star can represent a significant reversal. Therefore it can be considered as more significant than the regular Morning Star pattern. Aggressive traders take entry above the current bullish candle and many traders enter the trade above the bearish candle of this candlestick pattern with a stoploss below the doji candle formed. My suggestion of entry is to wait for the price to give a closing above 10 EMA and RSI value above 40.
NSE:TCSLong
by anuragsahu614
NIFTY retouching the breakout + RSI divergence (120 pts ahead)During expiry Thursday the market was highly volatile and closed at 10289 level. Still the breakout dint failed, with a small risk can go long upto 10410 CMP : 10289 SL : 10239 Target : 10410 1:2 risk reward, almost 121 pts ahead with 50 pts risk. Analyze : 1) NIFTY if you compare with my yesterday analyze, it has formed Engulfing at resistance, and today almost kind of a doji and closed near yesterday low 2) If tomorrow morning turns up and reached our target (10410) it will become a Morning star pattern and sign and breakout can give more heights 3) RSI bullish divergence i'm 15 min's time frame, that is really powerful. P.S : Morning star at ressistance level is not that much powerful, so try to close the position as soon as target reached.
NSE:NIFTYLong
by srikartiram
2