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Shooting Star

Mentorship InstaView 16 Aug’21: Shooting Star ... Make a Wish
Nifty View: It has been a one-way high momentum rally for the benchmark Nifty over the past few trading sessions. At today’s close at 16,559, the index posts yet another positive day - up 42 points or 0.25%. A look at the 75mins chart, and we can see a “Shooting Star” which under the Japanese Candlestick parlance is a sign of a possible reversal. Now there is no doubt that it is a beautiful shootings star and you can wish for a correction, which is fine and healthy for the underlying uptrend. But do not expect any significant downsides based on this pattern only. Short term support to watch for is at (16,450-16,500). 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
Bajaj -Auto Potential Short trade with 10-18 percent returnBajaj Auto has been in a consistent up move. However the recent price action suggest possible short term exhaustion in the up move. While the long term up trend remain strong, there can be opportunities in the short side as well. Chart suggests the formation of a staggered shooting star formation. The classical shooting star is a three candle stick pattern, but the staggered shooting star pattern could be observed when one finds multiple candles together forming the bullish setup and multiple candles forming the reversal candle and multiple candles confirming the reversal set up. Refer chart for trade entry conditions and parameters. Caution The information provided is for educational purposes and the author does not assume any responsibility on trades taken based on the comment.
NSE:BAJAJ_AUTOShort
by binuppaul
Educational Idea given on RIL candlestic chartsEducational idea given on Candlestick charts pattern on RIL Share. Candle charts are not generating any trading ideas but provide the high probability that the stock move is going as per given direction. Check on daily charts all the conditions are fulfilled when we see the Shooting star candle visible on RIL share will go step by step . 1) After uptrend Shooting star visibility means the probability of stock to move in downtrend now. 2) Keep the Stop Loss on the top wick or just above as shown in image. 3) Keep the target 1:2 at least or as per your reward to risk ratio. 4) Book the profit & exit trade. See the power of shooting star candle. Already above idea given to our members and now sharing with you for educational purpose. in case any doubt please feel free to ask & start following will share more educational and profitable ideas with all of you.
NSE:RELIANCEEducation
by Tech_stock_trader