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Nifty-Today’s Candlestick Analysis- Support –Resistance |
anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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Post: #1  Posted: Tue Dec 09, 2014 10:06 pm Post subject: Nifty-Today’s Candlestick Analysis- Support –Resistance |
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Nifty-Today’s Candlestick Analysis- Support –Resistance
Pattern on daily chart:- Similar to Three Black Crows, but not perfect
*Hourly chart:- closed with non-classical hammer.
Note:-Actual down-trend started with ~high-wave candle on 4th which failed to hold 8623.
Next support based on candlestick-
8319-8323- Minor
8293-8299- Medium
8194- Minor
8195-8167- Major
Next Resistance based on candlestick-
8350-53-Medium (interesting ...very close to today’s closing)
8428-8430- Medium
8454- Medium
8537- Major
Disclaimer:- *Invest based on your own analysis and own risk. This forum is only for discussion. [/b] |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #2 Posted: Wed Dec 10, 2014 9:10 pm Post subject: Nifty-Today’s Candlestick Analysis- Support –Resistance |
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Pattern on daily chart:- No pattern.
Please note this is not piercing pattern.
Today’s candle do not have lower shadow indicating bears are not trying to push price down at the same time has upper shadow indicating at higher price sellers are stepping in marginally. Hence trend is down.
*Hourly chart:- 8375 tested twice and failed. There is high wave candle closing at 8353. Market is undecided at this level
Next support based on candlestick-
8319-8323- Minor
8303-8302 Minor
8293-8299- Medium
8195-8167- Strong
Interesting level:- 8350-53-market is undecided at this level. (very close to yesterdays and today’s closing)
Next Resistance based on candlestick-
8375- Minor
8428-8430- Medium
8454- Medium
8537- Strong
Disclaimer:- *Invest based on your own analysis and own risk. This forum is only for discussion.[/u] |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #3 Posted: Thu Dec 11, 2014 9:12 pm Post subject: Nifty-Today’s Candlestick Analysis-Support-Resistance |
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Date :- 11-12-2014
Pattern on daily chart:- No pattern..
Today’s candle has small upper shadow and bit of lower shadow. Indicating both bulls are bears showing their presence at support and resistance level. Hence trend is still down but Cautiously Down.
*Hourly chart:- 8350 was tested twice but failed. In second half market has created a shooting star after two hours up move. The band between 8350 and 8353 will act as resistance in future up trends
Next support based on candlestick-
8270-8265 Medium
8190-8167- Strong
Next Resistance based on candlestick-
8349-8353 – Medium
8375- Minor
8428-8430- Medium
8454- Medium
8537- Strong
Disclaimer:- *Invest based on your own analysis and own risk. This forum is only for discussion. |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #4 Posted: Sat Dec 13, 2014 10:45 pm Post subject: Nifty-Today’s Candlestick Analysis- Support & Resistan |
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Date :- 12-12-2014
Pattern on daily chart:- No pattern..
Today’s candle has big body and small upper shadow and bit of lower shadow. Indicating last bit of bulls has given control to sellers.
Trend remains down.
Beware of strong support area nifty is entering.
*Hourly chart:- Nothing much to notice. But please pay attention to last doji. Incicating selling is slowing down and may see minor pull back or choppiness if not gaped down on monday
Next support based on candlestick-
8190-8170- Strong
8150-8135 Strong
7975-7950 Strong
Next Resistance based on candlestick-
8270-8275Medimum
8349-8353 – Medium
8375- Minor
8428-8430- Medium
8454- Medium
8537- Strong
Disclaimer:- Invest based on your own analysis and own risk. This forum is only for discussion. |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #5 Posted: Mon Dec 15, 2014 9:12 pm Post subject: Nifty-Today’s Candlestick Analysis- Support & Resistan |
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Date :- 15-12-2014
Pattern on daily chart:- No pattern. Please note this is not piercing pattern
Today’s candle has large body and very small upper shadow and no lower shadow. Bulls have rejected lower price. Bears have lost control.
Trend still remains down. Please note upside move is not confirmed as closing is not deep enough inside body of previous candle.
Nifty is in support zone.
*Hourly chart:- 8233 has been rejected twice. Last candle is indicating the lower prices are also getting rejected
Next support based on candlestick-
8190-8170- Strong
8150-8135 Strong
7975-7950 Strong
Next Resistance based on candlestick-
8270-8275Medimum
8349-8353 – Medium
8375- Minor
8428-8430- Medium
8454- Medium
8537- Strong
Disclaimer:- Invest based on your own analysis and own risk. This forum is only for discussion.
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #6 Posted: Tue Dec 16, 2014 9:18 pm Post subject: Nifty-Today’s Candlestick Analysis- Support & Resistan |
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Date :- 16-12-2014
Pattern on daily chart:- No pattern.
Today’s candle has large body and very small upper shadow and bit longer lower shadow. Bulls lost control bears won today bulls showed insignificant presence
Trend still remains down. There is no indication of bears losing control.
Nifty is in support zone. Such supports are broken with strong force only.
*Hourly chart:-there was rejection at 8136 followed by two classical hammers confirming support area
Next support based on candlestick-
8150-8135 Strong
7975-7950 Strong
7935 -7830 Strong
7857-7872 Medium
7810 Strong
Next Resistance based on candlestick-
8177-8220 Strong
8270-8275Medimum
8349-8353 – Medium
8375- Minor
8428-8430- Medium
8454- Medium
8537- Strong
Disclaimer:- Invest based on your own analysis and own risk. This forum is only for discussion |
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sambhaji_t
White Belt
Joined: 31 Mar 2008
Posts: 135
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| Post: #7 Posted: Thu Dec 18, 2014 5:59 pm Post subject: Re: Nifty-Today’s Candlestick Analysis- Support & Resi |
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Anilji,
Chart speak louder. Please show with chart.
Thx in advance |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #8 Posted: Thu Dec 18, 2014 10:59 pm Post subject: Nifty-Today’s Candlestick Analysis- Support & Resistan |
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Date :- 18-12-2014
PATTERN ON DAILY CHART:- There are two patterns. Both worth noting
1. Two candle pattern: - Bullish Kicker – Indicating some-thing has changed in the market which has affected sentiment(in this case bullish). First candle is red and today’s candle is green. Body of today’s candle is not overlapping with previous candle. Almost perfect pattern except has longer shadows.
2. Three Candle pattern :- Morning start completion. This is a perfect morning star.
TODAY’S CANDLE :- has small body, small upper shadow and long lower shadow. This is like hammer but cannot be called as hammer due to change of trend before formation of hammer
BODY- Bulls have marginal control of today’s session
UPPER SHADOW:- Small -indicating little resistance at higher price- has no significance
LOWER SHADOW:- very Long – Lower prices are rejected by bulls
TREND:- Up
*Hourly chart:-Third hourly candle was hammer confirming support area. (Closed at 12.00)
Next support based on candlestick-
8078-8083 Medium
7975-7950 Strong
7935 -7930 Strong
7857-7872 Medium
Next Resistance based on candlestick-
8203-8219- Strong
8349-8353 –Strong
8375- Minor
8428-8434- Medium
8454- Medium
8537- Strong
Disclaimer:- Invest based on your own analysis and own risk. This forum is only for discussion |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #9 Posted: Fri Dec 19, 2014 8:31 am Post subject: |
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| there was also an island reversal yesterday |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #10 Posted: Fri Dec 19, 2014 8:47 am Post subject: |
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| vinay28 wrote: | | there was also an island reversal yesterday |
spot filled the gap though. shouldn't in island reversal a gap remain? |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #11 Posted: Fri Dec 19, 2014 9:11 am Post subject: |
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| apka wrote: | | vinay28 wrote: | | there was also an island reversal yesterday |
spot filled the gap though. shouldn't in island reversal a gap remain? |
island can be inclined also?  |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #12 Posted: Fri Dec 19, 2014 9:49 am Post subject: Re: Nifty-Today’s Candlestick Analysis- Support & Resi |
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| sambhaji_t wrote: | Anilji,
Chart speak louder. Please show with chart.
Thx in advance |
Hi Sambhaji
Thank you for suggestion
Trade well
Anil |
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anilsutarpune
White Belt
Joined: 26 Jun 2014
Posts: 62
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| Post: #13 Posted: Fri Dec 19, 2014 10:02 am Post subject: |
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| apka wrote: | | vinay28 wrote: | | there was also an island reversal yesterday |
spot filled the gap though. shouldn't in island reversal a gap remain? |
Yes gap got filled. But your analysis is almost on-spot because the pattern is indicating same market psychology- 'Market has decided to change the direction with strong force.'
Also Island top reversal (the term) has origin in western analysis (used in bar chart analysis). |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #14 Posted: Fri Dec 19, 2014 11:19 am Post subject: |
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This is what I meant, apka.
Anil, sorry for intruding in your thread. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #15 Posted: Fri Dec 19, 2014 11:32 am Post subject: |
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oh okay, interesting  |
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