Interesting Candlestick Patterns for the Week Ending 28-7-23

  • Stock Market Analysis

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 an 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 19646 & Bank Nifty at 45468:

  1. Arvind Ltd (NS: ARVN )
  2. Brightcom Group (NS: BRIH ) -9%
  3. BSE Ltd +8%
  4. Dollar Industries +18%
  5. Intellect Design +9%
  6. Lovable Lingerie (NS: LOVA ) +8%
  7. Motilal Oswal (NS: MOFS ) Finance +10%
  8. Nifty Realty +5%
  9. REC (NS: RECM ) Ltd +20%
  10. Sharda CropChem -12%
  11. 5 Paisa Capital +17%
  12. ACC Ltd (NS: ACC ) +10%
  13. Adani Green +9%
  14. Anand Rathi +8%
  15. Auro Pharma +7%
  16. BEML (NS: BEML ) +7%
  17. BHEL +9%
  18. Castrol India (NS: CAST ) +9%
  19. Chennai Petro -10%
  20. Colgate (NS: COLG ) Palmolive +11%
  21. Fino Payments Bank (BO: FINY ) +18%
  22. GNA Axles +7%
  23. Marico (NS: MRCO ) +6%
  24. Paytm (NS: PAYT ) -9%
  25. Texmaco +22%

Conclusion/Views for the next week:

The indices have taken a breather and have not ended the week on a higher note. Even though Nifty has ended on a relatively better note, Bank Nifty is the one who has been experiencing problems mainly caused by HDFC Bank (NS: HDBK ). Now that the merger is out of the way, there is no news to take it further up and that seems to be causing the issues,

Any close below 19600 for Nifty and 45200 for Bank Nifty is likely to create short-term issues for the indices and it would open the gates on the downside by about 200-250 points for Nifty and 400-600 points for Nifty.

It is a wait-and-watch week ahead. GIFT NIFTY for now indicates a positive opening at +37. However, this is only an indication and not a certainty.

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  • gondal ach @gondal ach any trending market which time frame should consider for trend reversal for intraday and position base.......
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