Intent
Each week, I perform a sectoral as well as my Watchlist review using monthly as well as weekly charts. I have shared the reviews for several weeks in a row and then I thought of making the whole review process as well as the outcome more interesting and that is when I thought of starting a new series titled “Interesting Candles”.
The intent is to share with the readers the stocks that have thrown up interesting price action at the end of the week and appear to be either adding to the bullish/bearish sentiment or simply it is just interesting candle that has either gained or lost a significant % during the week. While doing so, I realized that if the reader either watches the video or even attempts to look at the charts, it would help him/her get a good learning experience.
If I write about the type of the candle, and what it indicates, it would become too long a post so you may follow the above approach. All charts used here are weekly but I may have also included some based on their daily patterns as these stocks are forming part of my Watchlist and are viewed on a regular basis.
Interesting Candlestick Patterns with Nifty at 17828 & Bank Nifty at 42131:
- Angel One (NS:ANGO) +6%
- Bajaj Auto (NS:BAJA) +6%
- Divis Labs +8%
- Eicher Motors (NS:EICH) +8%
- IndusInd Bank (NS:INBK)
- JSW Steel (NS:JSTL)
- Kotak Mahindra Bank (NS:KTKM) +6%
- Nifty Realty
- Reliance Power (NS:RPOL) +14%
- Tata Motors (NS:TAMO) +7%
- Aavas Financiers +9%
- Anand Rathi Wealth (BO:ANAA) +5%
- Dabur India (NS:DABU)
- KSCL
- Latent View +8%
- Minda Corp +8%
- NAM India +7%
- Nucleus Software -10%
- PNB (NS:PNBK) Housing -7%
- Vinati Organics +10%
Conclusion:
I suggest that you please watch the video to know how I have selected the candles and how I interpret the candles while analyzing them. I trust this attempt will be of help to the readers.
Nifty must hold on to 17400-500 levels in the coming week to sustain the recovery from the bearish onslaught.
Here is the video link: https://youtu.be/eKmY3-OIlMw
Thank you!