FUTURE:
"SELL HAVELLS BELOW 280 TGT 270.00 SL 285.00"
CASH:
"SELL SRF
LTD BELOW 916 TGT 895.00 SL 930.00"
What is a Candlestick ?
Candlesticks show the price movement in a certain period, by using
the trading day’s open, high, low and close. A candlestick is composed of a box
which is called the body, whose length is the difference between the open and
close, and thin vertical lines that are called the shadows above and below the
body, representing the high and low prices reached during the day. A bullish
day with a closing price higher than the opening price is shown by a white
(hollow) body; while a bearish day with a closing price lower than the opening
is shown by a black body. The body becomes a short horizontal line when the
opening and closing prices are equal. In this case the candlestick is called a
Doji, which usually signifies indecision in the market.
Though single candlesticks convey valuable information about the
changes in a market’s supply and demand balance, a succession of candlesticks
taken together, are more pertinent for this purpose as they make a pattern. The
superiority of candlestick patterns over other technical analysis tools in
forecasting medium and particularly short term direction is proven. Forecasting
with candlesticks requires the proper identification of more than eighty
different patterns and a well behaved continuous set of data with no missing
observations.
Why Candlesticks?