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Escorts Weekly ChartNSE:ESCORTS As We can see Escorts had a Top around 750-770 levels where it formed a Bearish Engulfing Pattern(Marked Area). Now at the same Area It made a Reversal Candlestick Pattern called Shooting Star(Marked Area) with Volumes above Average. That Pattern is also called "Falling of the Roof(Steve Nison)" which touches targets in fast momentum. Risk:Reward looks favorable. So Entry Should be taken below Shooting Star Candle's Low with a close above it as Stoploss and Recent Low as Target. See chart for better understanding. Sell Below 720-718 Area With SL of 790 (Closing Basis) and Target of 610-630 Area
NSE:ESCORTSShort
by abhishek72457
Titan... pin bar & double top intradayTitan pin bar and double top intraday given a free fall from 2380 to 2325 During the intraday if one develops the habit of reading candlesticks and patterns than the dependency on indicator will reduce and more clear picture of movement can be seen without confusion loading of many indicators makes difficult to take action.. keep your chart clean and neat... load only needed information which makes you comfertable while trading.. views are just for EDUCATIONAL...
NSE:TITAN
by MDstockmagic
Bata : -ve candlesticks & bearish rsi divergenceBATAINDIA has made -ve 3Star Candle Stick Patter with Bearish RSI Divergence, seem like after burning many hands its thinking to go short. Entry : Strong Closing Below Red Line Stoploss : 1430 (Closing Basis) Basic Target: 1330 if you have any queries regarding above idea or any other stock feel free to D'M Recently we launched, TruStox Community a community driven platform for Traders with almost all features that a trader needs. Here are some of them:- Regular Study Conferences Collective Fundamental Research Access to Tools from Trader's Toolkit & many more. For More information : Click Here! Note : Trading in any financial market is very risky. We post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
NSE:BATAINDIAShort
by TruStox
Rain - Monsoon BonanzaMonsoon is in flow and the scrip has also taken strong bullish ride breaking 52-week crucial resistance after block deal economictimes.indiatimes.com Although, corrections may happen due to profit booking by shorters and swing traders, The scrip can go long towards price target (mentioned in chart) as strong bullish trend can be noticed for now Not complete formation of Cup and handle pattern but atleast, reversing bottom can be seen as it is missing the handle currently :) Traders/investors can see to start trade post confirmation, after scrip crosses 134-136 price range with more bullish engulf or continuous white candlesticks Support or SL = Breakout (resistance 52-week high) or even lower, depending upon the risk appetite (Ignore the 123-resistance seen at top-right)
NSE:RAIN
by amankavi
1
We have an immediate support at 12130 levelsThe index bounced back today after correcting during the week. As mentioned that the narrow range candles have created value area which will act as resistance in the coming weeks. The weekly candlestick pattern is not very encouraging for bulls. We have an immediate support at 12130 levels, Nifty is expected to hold on to this to maintain the gains. Above this level Nifty is safe and can move up to 12340, 12410 & 12450. Nifty may face major hurdle at 12340 levels. As the budget sessions gets closer we may expect a surge in volatility and wild swings.
NSE:NIFTY
by BharatJhunjhunwala
Piercing Line Candlestick Pattern in Nifty at Support Zone.Hello Everyone, today i have brought Nifty Analysis. Nifty has formed Piercing Line Candlestick Pattern, this is called a bullish reversal pattern. Nifty has taken U turn after making low at 23842.75 and given successfully closing at 24213.30 above 24000 psychological level. I feel we can see some bullish move in nifty behalf of this candlestick pattern. If i talk about Open Interest:- Call options OI:- 2,789,700 & Put Options OI:-3,958,100 Total PCR comes:- 1.42 It is shows mildly bullish atleast we can expect Nifty above 24000 for some days, or till expiry. Okay now let me tell you all about Piercing line candlestick pattern:- What Is a Piercing Pattern? A piercing pattern is a two-day, candlestick price pattern that marks a potential short-term reversal from a downward trend to an upward trend. The pattern includes the first day opening near the high and closing near the low with an average or larger-sized trading range. It also includes a gap down after the first day where the second day begins trading, opening near the low and closing near the high. The close should also be a candlestick that covers at least half of the upward length of the previous day's red candlestick body. Key Takeaways The piercing pattern is a two-day candle pattern that implies a potential reversal from a downward trend to an upward trend. This candle pattern typically only forecasts about five days out. Three characteristics of this pattern include a downward trend before the pattern, a gap after the first day, and a strong reversal as the second candle in the pattern. How a Piercing Pattern Works A piercing pattern features two days where the first is decidedly influenced by sellers and where the second day responds by enthusiastic buyers. This is potentially an indication that the supply of shares that market participants want to sell has been depleted somewhat, and the price has been driven down to a level where demand for buying shares has increased and been shown to be evident. This dynamic seems to be a somewhat reliable indicator of a short-term upward forecast. Piercing Pattern Formation The pattern is preceded by a downward trend in price. (This may be only a short downtrend, but if the candles appear after an upward trend in price it is not an important reversal indicator). The price gaps lower to begin the second day. (This pattern is mostly found in stocks because of their ability to have overnight gaps unlike currencies or other 24-hour trading assets. This pattern may occur in any asset class on a weekly chart, however). The second candle must close above the midpoint of the first candle. (This signifies that buyers overwhelmed sellers on this day.) The first candlestick is usually dark colored or red, signifying a down day, and the second is green or lighter colored, signifying a day that closes higher than it opened. When a trader is watching for a bullish reversal, any red candlestick followed by a white candlestick could be an alert, but the piercing pattern is a special indication because the reversal is likely unexpected for most market participants. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
NSE:NIFTYLong
by TraderRahulPal
1
Bullish Harami candlestick Pattern Seen near support zoneHello Everyone, i hope you all will be doing good in your trading and your life as well. I have brought a stock which has taken support near to important support zone and has formed bullish Harami (Pregnant Lady) candlestick pattern. Nifty is highly bullish so all the stocks giving participation in the rally, BPCL just have started. Behalf of this Harami candlestick pattern stock can react and take support in this zone and price can move upward from here. All the Targets, entry levels and the Stop loss has already mention on chart above. Please go through to know that. First let's discuss about this Bulish Harami Candlestick Pattern. Bullish Harami candlestick pattern is a price chart pattern that signals trend reversals in an ongoing bear market. Bullish Harami candlestick pattern is a two candlestick pattern in which there is a long bearish candlestick and small bullish candlestick pattern. About Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining of crude oil and marketing of petroleum products. Presence Across Value Chain Retail (Petroleum) - The company owns 82 retail depots and operates ~20,000 retail outlets across India. Presently, it has a market share of ~26% in the domestic petroleum market. LPG - The company owns and operates 54 LPG bottling plants and serves over 6,200 distributors of LPG in India. It has a base of ~9 crore customers with a market share of 27%. Industrial/ Commercial - The company serves 8,000+ customers and provides them with a reliable supply of industrial and commercial petroleum products. Aviation - The company has 56 aviation service stations across airports in India and has a 21% market share in ATF (Aviation Turbine Fuel) in the domestic market. Lubricants - The company sells more than 400 grades of lubricant products through its own brand MAK Lubricants. It has a market share of ~25% through a base of over 18,000 customers. Gas - The company has a customer base of 55+ major LNG customers. The company undertakes this business through its wholly owned subsidiary Bharat Gas Resources Ltd which has business interest in 50 GAs (geographical areas). Market Cap ₹ 1,46,685 Cr. Current Price ₹ 338 High / Low ₹ 367 / 166 Stock P/E 7.53 Book Value ₹ 174 Dividend Yield 6.21 % ROCE 32.1 % ROE 41.9 % Face Value ₹ 10.0 Industry PE 10.4 Debt ₹ 54,599 Cr. EPS ₹ 43.9 Promoter holding 53.0 % Intrinsic Value ₹ 352 Pledged percentage 0.00 % EVEBITDA 5.25 Change in Prom Hold 0.00 % Profit Var 5Yrs 28.2 % Sales growth 5Years 8.48 % Return over 5years 7.77 % Debt to equity 0.72 Net profit ₹ 19,056 Cr. ROE 5Yr 23.0 % Profit growth -2.86 % Earnings yield 15.5 % PEG Ratio 0.27 Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BPCLLong
by TraderRahulPal
4
Deep Dive: Gravestone Doji Candlestick PatternA lot of traders I have come across relied on a particular pattern for analysis: Gravestone Doji Candlestick Pattern. Meaning Gravestone Doji is a type of Doji pattern that arises when a security’s opening price, low price, and closing price are very similar. This candlestick pattern can be witnessed at the top of the chart when the security prices are at a very high point and then after which you can expect a fall in prices. Gravestone Doji is formed when the opening price of a security is almost similar to the closing price. It looks like the letter “T” that is turned upside down in which the body lies below the candlestick chart and the long shadow-like line lies above it. The same opening and closing prices indicate that there are many buyers for particular security in the market which leads to a rise in demand and hence prices are rising. The shadow line above the body indicates that security prices have reached their resistance level after which there will be a direct fall. This fall in price will lead to high selling in the day and hence the upward trend will be corrected. Now that you have understood the meaning, let’s understand Gravestone Doji’s usage. Usage of Gravestone Doji A pattern that has Gravestone in it has to be bearish, right? It is. Gravestone Doji is a bearish indicator that arises after an upward trend in security prices. The indicator is used as a sell signal. The final decision should be taken after analyzing other technical indicators such as moving average convergence divergence (MACD), Fibonacci levels, and relative strength index (RSI). Along with these indicators, you should also consider the volumes traded in the day. So far, we have spoken about the basics of Gravestone Doji. Let’s deep dive into the examples. Example of Gravestone Doji Across Trends 1. Usage in Upward Trend When the Gravestone Doji is formed after an upward trend in security prices, you can expect that prices are more likely to fall in the future. In this case, you should buy the security when the first candlestick closes just beneath the low point of the Gravestone Doji. The main idea is to sell the security in the short run just within a day. You can set a stop loss beyond the high level of the candlestick pattern. The decision should be taken after analyzing the RSI indicator to check if the security is in an overly bought situation. For example, if the RSI is 80, then it will indicate that security is over-purchased. This means that your decision is correct to sell the security because the signal of RSI aligns with the Gravestone Doji pattern. 2. Usage in Downward Trend When the Gravestone Doji is formed after a downward trend in security prices, then it does not guarantee that prices will rise. Rather than this, the prices will continue to fall further and therefore you should sell the security. In this case, you can sell the security when the first candlestick closes below the Gravestone Doji. You can set a stop loss just above the high level of the candlestick pattern. Drawbacks of Using Gravestone Doji Gravestone Doji helps you analyze past patterns in security prices on which you can predict the future but it certainly has some drawbacks which are as follows. 1. Indicate a Wrong Trend This indicator tells you that once the prices rise to a point, they will show the reverse trend and start falling but that does not happen in every situation. So, you have to wait for the next candlestick pattern and analyze some other indicators to take the best position. 2. Not Ideal for Bearish Trend Gravestone Doji only tells you about the upcoming bearish trend when the prices are rising today. It does not show the correct signal when the prices are already falling. Therefore, you should not expect that the reverse trend will happen when there is already a bearish trend. 3. Not Dependable in Some Conditions You cannot depend on this indicator in some situations like low trading volume where you cannot see a relevant pattern in security prices. Also, the pattern may vary in different markets and the time at which you are studying the security prices. 4. Not Good for Long-Term Gravestone Doji is best for short-term market positions and not for the long-term because high fluctuations are more likely to happen in the short run. Therefore, it is ideal only for day traders and not for value investors. Conclusion Gravestone Doji is a technical indicator that tells you more about a bearish trend in the future when the security prices are going up. It looks like a flipped “T” shape where the closing, opening, and low prices are almost similar. Typically used as a Sell signal, you can add indicators such as MACD on top to ensure that you’re not fooled by randomness.
NSE:NIFTY
by Dhan
GSFC- Magical Turn below 122 & Evening Star Candlestick Pattern!From previous update- "knocked 118.80 what next?" - Any move above 122 on a sustained basis can be looked as wave-iii or warning bell- warning bell rings just below 122. Wow!- It turns just below 122 from recent high@121.50 What Next? In current scenario you have Evening Star Candlestick Pattern- 3 candlestick pattern- which indicates a bearish or sell setup & could be an early sign of reversal & likely a dip below the previous high of 107 could be expected. What is an Evening Star Candlestick Pattern? An evening star is a bearish candlestick pattern consisting of three candles that have demonstrated the following characteristics: the first bar is a large white candlestick located within an uptrend; the middle bar is a small-bodied candle, red or white, that closes above the first white bar; and, the last bar is a large red candle that opens below the middle candle and closes near the center of the first bar's body. This pattern is used by traders as an early indication the uptrend is about to reverse. Knocked 118.80- What Next? GSFC- Rocket Move Started from 107 GSFC 2016 Diary- How we moved in year 2016
NSE:GSFCShort
by WaveTalks
4
GOLD FUTURE - BULLISH PRICE ACTIONBullish price action refers to a series of price movements and candlestick patterns in a financial market that indicate an upward or bullish trend is likely to continue or emerge. Here are some common signs of bullish price action: 1. Higher Highs : In an uptrend, each successive high should be higher than the previous one, demonstrating an upward momentum in prices. 2. Higher Lows : Similarly, each low in an uptrend should be higher than the preceding low, indicating that buyers are willing to step in at higher price levels. 3. Bullish Candlestick Patterns : Look for bullish candlestick patterns like bullish engulfing patterns, hammer, morning star, or doji reversals, which can suggest a potential shift in momentum to the upside. 4. Support and Resistance : When price breaks above a significant resistance level or a moving average, it can be a strong bullish signal. 5. Volume Increase : Increasing trading volume as prices rise is often a confirmation of a bullish trend. 6. Trendlines : Drawing an upward-sloping trendline connecting the lows can help visualize the bullish trend.
MCX:GOLD1!Long
by CA_Anand_Navander