SHORT TERM VIEW

BEARISH GRAVESTONE DOJI :-

NIFTY - DAILY

Today on daily chart NIFTY formed BEARISH GRAVESTONE DOJI CANDLESTICK PATTERN which suggest there may be end of this up move for a while. This candlestick pattern will need confirmation next day. Confirmation may be in the form of  tommorow's opening below today's close. The larger the gap the stronger the confirmation will be. A black candlestick with lower prices can also be another form of confirmation.
That means now there are chances that the price will test the upper border of triangle, which may or may not act as support.

Those who are interested for further information regarding  BEARISH GRAVESTONE DOJI, can visit this link http://www.candlesticker.com/Cs46.asp


DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading / investment recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.

EVENING DOJI STAR ?

This is daily chart of nifty. Yesterday it formed doji and looks like to be evening star doji which needs confirmation by today's price action. Also as shown it also got resisted at 50 sma that to with good volume. Is it indicating reversal of short term up trend we will keep our finger croosed.

Later on will wright in detail regarding evening doji star.

 DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

DIRTY CANDLE

This is yesterday's 5 min nifty future chart. Watch the last candle which is bearish ( suggests down move ). Whenever such candle is there and accompanied by large volume, most of the time next day there is gap down ( lower )opening. Even though if there is no gap down opening most of the times next day market closes at lower level than previous day.s closing.
 DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

NIFTY CUP AND HANDLE PATTERN IN MAKING ?

As shown in chart nifty is making cup and handle pattern in 5 minute chart, so if 5 min candle on closing basis if closes above resistances 4710, 4720 it will target 4790-4800, stop loss for this trade will be close below recent trough which is right now at 4672.35
 DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.

BULLISH ENGULFING CANDLE IN MONTHLY CHART

Today is last day of October, and if we see monthly chart of nifty there is bullish engulfing candlestick pattern which is bullish.

MONTHLY CHART- BULLISH ENGULFING

Now let us see what is meant by bullish engulfing --

The bullish engulfing pattern consists of 2 candlesticks, the first one is black & second one is white. The body of white candlestick must totally engulf the body of black candlestick. This usually forms after downtrend. After a decline, the second white candlestick begins to form when selling pressure cause the stock to open below the previous close. Buyers step in and push price above the previous open for a strong finish and a potential short term reversal. THE LARGER THE WHITE CANDLESTICK AND MORE THE ENGULFING IT IS STRONGER REVERSAL.

DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.