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Candlestick chart analysis – An impactful stock trading tool
Candlestick patterns are a powerful technical analysis tool that displays information about an asset’s price movement. It is important to note that a candlestick analysis is best done when the trader efficiently compares one candle with its preceding and next candles in the row. Candlestick chart patterns represent an entire day of price movements till the market closes. Twenty candlestick patterns represent the 20 trading days in a month. Understanding candlesticks is one of the most critical aspects of the stock market for beginners.
What are candlestick patterns?
Candlestick patterns are a powerful technical analysis tool that displays information about an asset’s price movement. This tool helps traders constantly check the price fluctuations of currencies, derivatives, and securities for intelligent and profitable investments. These patterns are represented in color bars, where each color coding shows an in-depth price analysis.
A typical candlestick chart consists of multiple horizontal bars or candles, which can be divided into three parts – Upper shadow, body, and lower shadow. Also, every candle has three basic features, namely,
Body – It is either red or green and represents the open-to-close range.
Wick – The wick is also known as shadow and indicates high and low intraday.
Color – The color reveals the direction in which the market moves. Green (white) indicates a price increase, and red (black) depicts a price decrease.
Candlestick chart patterns represent an entire day of price movements till the market closes. Twenty candlestick patterns represent the 20 trading days in a month. Understanding candlesticks is one of the most critical aspects of the stock market for beginners. These patterns are based on past and current price movements and cannot be analyzed as future indicators. Each candle represents a day-to-day story of buyers and sellers. The green candle is a victory for the buyers, and the red candle shows the sellers’ win.
How is candlestick chart analysis done?
A candlestick pattern represents the stock market’s opening, high, low, and closing (OHLC) prices. The rectangular body in the middle represents the opening and closing of trading prices. This body is either colored green (depicting a price increase) or red (showing a price decrease). The lines above and below the body are called wicks or shadows, representing the high and low of the traded stock price.
If the upper wick on a red candle is short, it represents that the market opened near the day’s high. If the upper wick on a green candle is short, the stock closes near the day’s high. Both the body and wicks can be long or short and combining all these parts of a candlestick highlight the changes in the market’s direction.
Learn candlestick patterns – Types of candle trading
It is important to note that a candlestick analysis is best done when the trader efficiently compares one candle with its preceding and next candles in the row. These patterns can be categorized into two sections – Bullish and bearish.
Bullish patterns – A bullish candle pattern represents an uptrend in the market movement after a price decline. Here the stock’s closing price is higher than the opening price and is represented by a green candle. Below are the different types of bullish patterns.
Hammer pattern – This pattern is depicted with a short body and long lower wick. It is usually placed at the bottom of a downward trend and indicates that despite selling pressure, the firm buying surge shifted the prices upwards. A green hammer indicates a strong bull market.
Inverse hammer pattern – It is similar to the bullish hammer pattern in the display. The only difference is that the short green body has a long upper wick. It is usually placed at the bottom of a downward trend and indicates buying pressure followed by selling pressure. The inverse hammer suggests that buyers will soon have control over the stock market candlestick patterns.
Bullish engulfing pattern – It is formed with two candlesticks, where the second one engulfs the first candle in the opposite direction. The first candle is short red, and the one which engulfs is large green. This trend indicates a bullish market, which pushes the price up despite a downward trend the previous day.
Piercing line pattern – Also known as a two-candle pattern, it indicates a reverse signal after a downward trend. This pattern depicts two long candles; The first is red, and the other is green. The closing price of the second candle is more than halfway up the body of the first candle, indicating intense buying pressure.
Morning star pattern – It is a three-stick pattern depicting a short red stick between a long red and long green stick. There is no overlap among the three sticks. This candle pattern indicates a decrease in the selling pressure and the start of a bull market.
Three white soldiers pattern – Three consecutive green candles with small wicks represent this pattern. These candles open and close progressively higher than the previous day. After a downtrend, this candlestick formation strongly indicates an upcoming bullish trend.
Bearish patterns – The bearish stock candlestick patterns create intense selling pressure for investors in the market due to a price decrease assumption. Here closing price of the stock for that period is lower than the opening price, and a red candle represents it. Below are the different types of bearish patterns.
Hanging man pattern – It is represented by a short red candle with a long lower wick at the top of an upward trend. The hanging man pattern represents an entry of selling interest in the market. Here bears gain control of the market.
Shooting star pattern – Like the hanging man, the shooting star is also at the top of an upward trend. But here, the short red candle has a long upper wick. Here, the market opens higher than the previous day and rallies a bit before crashing like a shooting star.
Bearish engulfing pattern – It occurs at the end of an uptrend and is formed with two candlesticks. The first candle, with a small green body, is engulfed by a long red candle. This pattern is evidence of a slowdown in price movement. The lower the second candle, the more significant the trend is likely to be.
Evening star pattern – Similar to the bullish morning star, it is a three-candlestick pattern, formed with a short green candle sandwiched between a long green and long red candle. The evening star pattern indicates the reversal of an upward trend.
Three black crows – Out of all the basic candlestick patterns, this is a three-candle pattern having three consecutive red sticks with short wicks. These candles open and close lower than the previous day. Three black crows pattern is an indication of an upcoming bear market.
Dark cloud cover – It is a two-candlestick pattern comprising a red candle that opens above the previous day’s green candle and closes below its midpoint. Candlestick trading with the dark cloud cover pattern indicates a sharp price decline, signaling that bears have taken over the session.
Stock market candlestick – Continuation candle patterns
When a candlestick pattern does not change the market direction, it is called a continuation pattern. To identify a rest period, traders need to have a deep candle chart analysis. The continuation patterns indicate a neutral price movement in the stock market. There are four types of continuation candle patterns, namely –
Doji – When the market’s opening and closing are almost at the same point, they form a Doji pattern. Both the green and red candlesticks resemble a plus sign with varying lengths of wicks and a short body. This pattern indicates a tough fight between buyers and sellers, resulting in no gain for either side.
Spinning top – This pattern shows rest in the market. It offers red and green candles with short centered bodies between wicks of equal lengths. The spinning top pattern indicates that the bulls sent the price higher, but bears pushed it down again, resulting in indecision in the market.
Falling three methods – This method predicts the continuation of a bearish trend depicting a long red body followed by three short green bodies and another long red body. All the green candles are placed between the red bodies indicating a low strength in bulls to reverse the trend.
Rising three methods – This method predicts the continuation of a bullish trend with three short red bodies sandwiched between long green bodies on either side. The reds are contained within the green bodies and depict buyers retaining market control.
Do candlestick patterns work?
Understanding candlesticks effectively requires keen attention to the market’s rules and regulations. Traders worldwide consider candlestick analysis as a primary means of identifying the stock market’s direction. However, for efficiency in trading candlestick patterns, you need to take advice from the best candlesticks patterns expert and active participation in the daily candle movements.
Reading candlestick patterns has been a popular strategy used in the stock market for several years. It works for the same reason as other daily or weekly technical analysis forms. Even the top SEBI-certified research analysts, like Ashutosh Bhardwaj, believe that SEBI research analysis on Nifty, Bank Nifty analysis, and other different stock market arenas derives the most profitable results.
#ashutosh bhardwaj#bank nifty#Bank Nifty analysis#Candlestick chart analysis#Candlestick chart analysis – An impactful stock trading tool#finance#growth#investment research#investments#logical nivesh#sebi#stock market#technical analysis
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Comparative Analysis: Bank Nifty vs Nifty
Comparative Analysis: Bank Nifty vs Nifty
Bank Nifty and Nifty 50 are two of the most closely watched and traded index futures in the Indian markets. However, there are significant differences between them that traders should be aware of. This article offers a detailed comparative analysis between Bank Nifty and Nifty.
Overview of Nifty Indices and Bank Nifty
Bank Nifty represents the 12 most capitalized and liquid equities in the banking industry, including HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank. It is highly influenced by interest rates and macroeconomic developments.
On the other hand, Nifty 50 covers various industries such as banking, IT, auto, and pharmaceuticals, providing a broader representation of the Indian equity markets. Top constituents include RIL, HDFC Bank, and Infosys.
Comparative Analysis
Volatility:
Bank Nifty tends to have higher volatility due to its concentration in the banking sector, which is highly sensitive to interest rates.
Nifty, with its diversified portfolio across industries, typically exhibits lower volatility compared to Bank Nifty.
Liquidity in Futures Trading:
Bank Nifty futures have a daily turnover ranging from ₹25,000 to ₹30,000 crores, with tighter spreads and lower impact costs.
Nifty futures, with a daily turnover of ₹45,000 - ₹60,000 crores, offer slightly wider bid-ask spreads and require higher margins.
Trading Styles and Impact:
Bank Nifty is suitable for short-term trading due to its frequent sharp movements, requiring nimble directional trading.
Nifty is more stable and suited for longer-term trades, supporting position trading and trend-following approaches.
Expiry Week Behavior:
Bank Nifty experiences heightened volatility and unpredictable price action during expiry week, necessitating careful risk management.
Nifty tends to have relatively stable price action during expiry week, making directional bias easier to predict.
Correlation Between the Indices:
Bank Nifty and Nifty exhibit a strong positive correlation, with both indices usually moving in the same direction.
However, divergent sector-specific factors can sometimes lead to temporary mis-correlation between the two indices.
Key Differences Summary:
Metric
Bank Nifty
Nifty 50
Constituents
12 banking stocks
50 large caps in various industries
Volatility
High to Moderate
Moderate
Liquidity
Very high
Extremely high
Trading Style
Ideal for short-term trades
Suited for position trading
Expiry Behavior
Highly volatile
Relatively stable
Correlation
Strong positive correlation
Moves in tandem on most days
Conclusion
In conclusion, Bank Nifty and Nifty exhibit distinct characteristics, offering different opportunities for traders. While Bank Nifty provides higher volatility and short-term trading chances, Nifty is better suited for longer-term directional trades. Traders should tailor their strategies accordingly and monitor the correlation between the two indices for valuable insights.
FAQs
Which is less volatile between Bank Nifty and Nifty?
Nifty typically shows less volatility than Bank Nifty due to its diversified portfolio across industries.
Which index is easier to trade for beginners?
Nifty provides a relatively smoother trading experience for beginners compared to the sharp volatility in Bank Nifty. Starting with Nifty futures is advisable.
What are the top 5 constituents of Bank Nifty?
The top 5 stocks by weightage in Bank Nifty are HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, and SBI, comprising nearly 60% of the index.
Does Nifty impact Bank Nifty more or vice versa?
Bank Nifty closely follows Nifty movements since banking is a heavyweight sector. However, declines in Bank Nifty can also drag Nifty down on some days.
Which futures contract offers better liquidity?
Nifty futures see the highest trading volumes, averaging ₹45,000 - ₹60,000 crores per day. However, Bank Nifty also provides ample liquidity with a daily turnover of ₹25,000 - ₹30,000 crores.
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Nifty Prediction : Nifty may test 18250 | Beware of strong dreamy market expectation
Daily Forecast – Share Market – May 15th, 2023
Nifty may test 18250 | Beware of strong dreamy market expectation
(Global Economical and banking suspected)
Ketu with Rahu is leading the day, well supported by Sun, Jupiter and Saturn. Importantly, Sun will be
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#banks#crude oil#currency#free predictions#indian astrology#metals#Nifty Prediction#Paid Horoscope analysis#sensex#Share Market#vedic astrology
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How to Study Bank Nifty Chart: Understanding and Identifying Them
Bank Nifty is a popular index in the Indian stock market that tracks the performance of the banking sector. Understanding how to study Bank Nifty charts can help traders and investors identify trends, patterns, and potential opportunities to make profitable trades.
To begin studying Bank Nifty charts, it’s essential to understand the basics of technical analysis, including the use of indicators such as moving averages, RSI, MACD, and Bollinger Bands. Traders should also pay attention to support and resistance levels, trend lines, and chart patterns like head and shoulders, double tops, and triangles.
Identifying key levels and patterns on Bank Nifty charts can help traders determine entry and exit points for their trades. It’s also crucial to pay attention to market news and events that may impact the banking sector’s performance and the Bank Nifty index.
Read More: Complet Guide To How to Study Bank Nifty Chart
In conclusion, studying Bank Nifty charts can provide valuable insights for traders and investors looking to profit from the Indian banking sector’s performance. By combining technical analysis with market news and events, traders can make informed trading decisions and maximize their returns.
If you’re interested in trading Bank Nifty, consider studying technical analysis and keeping up to date with market news and events then join FinGrad to help inform your trading decisions.
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TREND DECIDER FRIDAY | NIFTY & BANKNIFTY ANALYSIS | 31-3-2023
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Candlestick chart analysis – An impactful stock trading tool
Candlestick chart analysis – An impactful stock trading tool
Candlestick patterns are a powerful technical analysis tool that displays information about an asset’s price movement. It is important to note that a candlestick analysis is best done when the trader efficiently compares one candle with its preceding and next candles in the row. Candlestick chart patterns represent an entire day of price movements till the market closes. Twenty candlestick patterns represent the 20 trading days in a month. Understanding candlesticks is one of the most critical aspects of the stock market for beginners.
What are candlestick patterns?
Candlestick patterns are a powerful technical analysis tool that displays information about an asset’s price movement. This tool helps traders constantly check the price fluctuations of currencies, derivatives, and securities for intelligent and profitable investments. These patterns are represented in color bars, where each color coding shows an in-depth price analysis.
A typical candlestick chart consists of multiple horizontal bars or candles, which can be divided into three parts – Upper shadow, body, and lower shadow. Also, every candle has three basic features, namely,
Body – It is either red or green and represents the open-to-close range.
Wick – The wick is also known as shadow and indicates high and low intraday.
Color – The color reveals the direction in which the market moves. Green (white) indicates a price increase, and red (black) depicts a price decrease.
Candlestick chart patterns represent an entire day of price movements till the market closes. Twenty candlestick patterns represent the 20 trading days in a month. Understanding candlesticks is one of the most critical aspects of the stock market for beginners. These patterns are based on past and current price movements and cannot be analyzed as future indicators. Each candle represents a day-to-day story of buyers and sellers. The green candle is a victory for the buyers, and the red candle shows the sellers’ win.
How is candlestick chart analysis done?
A candlestick pattern represents the stock market’s opening, high, low, and closing (OHLC) prices. The rectangular body in the middle represents the opening and closing of trading prices. This body is either colored green (depicting a price increase) or red (showing a price decrease). The lines above and below the body are called wicks or shadows, representing the high and low of the traded stock price.
If the upper wick on a red candle is short, it represents that the market opened near the day’s high. If the upper wick on a green candle is short, the stock closes near the day’s high. Both the body and wicks can be long or short and combining all these parts of a candlestick highlight the changes in the market’s direction.
Learn candlestick patterns – Types of candle trading
It is important to note that a candlestick analysis is best done when the trader efficiently compares one candle with its preceding and next candles in the row. These patterns can be categorized into two sections – Bullish and bearish.
Bullish patterns – A bullish candle pattern represents an uptrend in the market movement after a price decline. Here the stock’s closing price is higher than the opening price and is represented by a green candle. Below are the different types of bullish patterns.
Hammer pattern – This pattern is depicted with a short body and long lower wick. It is usually placed at the bottom of a downward trend and indicates that despite selling pressure, the firm buying surge shifted the prices upwards. A green hammer indicates a strong bull market.
Inverse hammer pattern – It is similar to the bullish hammer pattern in the display. The only difference is that the short green body has a long upper wick. It is usually placed at the bottom of a downward trend and indicates buying pressure followed by selling pressure. The inverse hammer suggests that buyers will soon have control over the stock market candlestick patterns.
Bullish engulfing pattern – It is formed with two candlesticks, where the second one engulfs the first candle in the opposite direction. The first candle is short red, and the one which engulfs is large green. This trend indicates a bullish market, which pushes the price up despite a downward trend the previous day.
Piercing line pattern – Also known as a two-candle pattern, it indicates a reverse signal after a downward trend. This pattern depicts two long candles; The first is red, and the other is green. The closing price of the second candle is more than halfway up the body of the first candle, indicating intense buying pressure.
Morning star pattern – It is a three-stick pattern depicting a short red stick between a long red and long green stick. There is no overlap among the three sticks. This candle pattern indicates a decrease in the selling pressure and the start of a bull market.
Three white soldiers pattern – Three consecutive green candles with small wicks represent this pattern. These candles open and close progressively higher than the previous day. After a downtrend, this candlestick formation strongly indicates an upcoming bullish trend.
Bearish patterns – The bearish stock candlestick patterns create intense selling pressure for investors in the market due to a price decrease assumption. Here closing price of the stock for that period is lower than the opening price, and a red candle represents it. Below are the different types of bearish patterns.
Hanging man pattern – It is represented by a short red candle with a long lower wick at the top of an upward trend. The hanging man pattern represents an entry of selling interest in the market. Here bears gain control of the market.
Shooting star pattern – Like the hanging man, the shooting star is also at the top of an upward trend. But here, the short red candle has a long upper wick. Here, the market opens higher than the previous day and rallies a bit before crashing like a shooting star.
Bearish engulfing pattern – It occurs at the end of an uptrend and is formed with two candlesticks. The first candle, with a small green body, is engulfed by a long red candle. This pattern is evidence of a slowdown in price movement. The lower the second candle, the more significant the trend is likely to be.
Evening star pattern – Similar to the bullish morning star, it is a three-candlestick pattern, formed with a short green candle sandwiched between a long green and long red candle. The evening star pattern indicates the reversal of an upward trend.
Three black crows – Out of all the basic candlestick patterns, this is a three-candle pattern having three consecutive red sticks with short wicks. These candles open and close lower than the previous day. Three black crows pattern is an indication of an upcoming bear market.
Dark cloud cover – It is a two-candlestick pattern comprising a red candle that opens above the previous day’s green candle and closes below its midpoint. Candlestick trading with the dark cloud cover pattern indicates a sharp price decline, signaling that bears have taken over the session.
Stock market candlestick – Continuation candle patterns
When a candlestick pattern does not change the market direction, it is called a continuation pattern. To identify a rest period, traders need to have a deep candle chart analysis. The continuation patterns indicate a neutral price movement in the stock market. There are four types of continuation candle patterns, namely –
Doji – When the market’s opening and closing are almost at the same point, they form a Doji pattern. Both the green and red candlesticks resemble a plus sign with varying lengths of wicks and a short body. This pattern indicates a tough fight between buyers and sellers, resulting in no gain for either side.
Spinning top – This pattern shows rest in the market. It offers red and green candles with short centered bodies between wicks of equal lengths. The spinning top pattern indicates that the bulls sent the price higher, but bears pushed it down again, resulting in indecision in the market.
Falling three methods – This method predicts the continuation of a bearish trend depicting a long red body followed by three short green bodies and another long red body. All the green candles are placed between the red bodies indicating a low strength in bulls to reverse the trend.
Rising three methods – This method predicts the continuation of a bullish trend with three short red bodies sandwiched between long green bodies on either side. The reds are contained within the green bodies and depict buyers retaining market control.
Do candlestick patterns work?
Understanding candlesticks effectively requires keen attention to the market’s rules and regulations. Traders worldwide consider candlestick analysis as a primary means of identifying the stock market’s direction. However, for efficiency in trading candlestick patterns, you need to take advice from the best candlesticks patterns expert and active participation in the daily candle movements.
Reading candlestick patterns has been a popular strategy used in the stock market for several years. It works for the same reason as other daily or weekly technical analysis forms. Even the top SEBI-certified research analysts, like Ashutosh Bhardwaj, believe that SEBI research analysis on Nifty, Bank Nifty analysis, and other different stock market arenas derives the most profitable results.
#Candlestick chart analysis – An impactful stock trading tool#SEBI Research Analyst#nifty#bank nifty#analysis#sebi
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#Nifty Prediction Tomorrow | Bank nifty Analysis | Level Trading#hdfcbank#infosys#icicibank#niftyprediction#niftypredictionfortomorrow#niftyfutures#nifty50#niftylevels#niftylevelsfortomorrow#banknifty#bankniftytomorrow#bankniftyanalysis#bankniftyoption#bankniftyprediction#tomorrowbankniftyprediction#niftytipsfortomorrow#optiontrading#optiontradingtrick#tradingtricks#intradaytrading#Youtube
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Nifty and Bank Nifty analysis | SEBI certified research analyst | Stock market tips for beginners
Ashutosh Bhardwaj is a SEBI registered Research Analyst, his company, Logical Nivesh guides users about risk-managed investment strategies. The team's detailed technical analysis makes way for effective trading. This video guides users about the core insights of Nifty and Bank Nifty. His detailed analysis has given a view of the upcoming trend of Nifty and Bank Nifty.
#Weekly Technical analysis on Nifty and Bank Nifty#SEBI certified research analyst#Logical Nivesh#Nifty and Bank Nifty analysis#Weekly Technical analysis
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Nifty and Bank Nifty analysis | SEBI certified research analyst | Stock market tips for beginners
Ashutosh Bhardwaj is a SEBI registered Research Analyst, his company, Logical Nivesh guides users about risk-managed investment strategies. The team's detailed technical analysis makes way for effective trading. This video guides users about the core insights of Nifty and Bank Nifty. His detailed analysis has given a view of the upcoming trend of Nifty and Bank Nifty.
#SEBI certified research analyst#Logical Nivesh#Nifty and Bank Nifty analysis#Weekly Technical analysis
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Ashutosh Bhardwaj is a SEBI registered Research Analyst, his company, Logical Nivesh guides users about risk-managed investment strategies. The team's detailed technical analysis makes way for effective trading. This video guides users about the core insights of Nifty and Bank Nifty. His detailed analysis has given a view of the upcoming trend of Nifty and Bank Nifty.
#Weekly Technical analysis on Nifty and Bank Nifty#SEBI Research Analyst#Logical Nivesh#Nifty and Bank Nifty#Weekly Technical analysis
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#Bank Nifty Option Chain Analysis#Nifty 50 option chain analysis#Nifty Bank Option Chain Analysis#bank nifty chain analysis
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Post Market Analysis of Equity Sensex
Post Market Analysis of Equity Sensex
Equity benchmarks Sensex slipped nearly 500 points and plunged 1400 points in the last two days tracking global peers after investors fretted over hawkish comments from major central banks. There was sharp declined across the global between 2-3% after following a 50 bps rate hike and hawkish message from the US Fed on 14th, the ECB and BoE also hiked rates on 15th by 50 bps each and delivered, a…
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#Bank Nifty Index#Equity benchmark#global market#global market today#global share market today#Market Analysis#market today#market us#Nifty index#share market#share market today#shares today#Stock to buy today#today global share market#today market open#today share market open#us market today#us share market today
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