Intent
Each week, I perform a sectorial as well as my Watch list 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 Watch list and are viewed on a regular basis.
Important Note:
EOD as on 7-10-22 17314 & SGX Nifty EOD 7-10-22 17070 or -244.
The above means that the stocks that I have listed here are more likely to undergo a significant change at the market open on 10-10–22 and our objective would then be to assess if the candles had already given the bearish indication or it ended without giving any hint of a possible storm in our P&L.
- Adani (NS:) Ports
- Cipla (NS:)
- Coal India (NS:)
- Eicher Motors (NS:)
- HDFC Bank (NS:)
- Hindalco (NS:)
- Hero Motor Co
- HUL
- JSW Steel (NS:)
- Reliance (NS:)
- Sun Pharma (NS:)
- TVS Motors
- NIIT (NS:) Tech
- Angel One (NS:)
- FSN E-Commerce
- EIH (NS:)
- Accelya
- Aavas Financiers
- Clariant Chemicals (NS:)
- Kotak ETF
- MCX
- Zomato (NS:)
- Titan (NS:)
- Raymond (NS:)
- Zee TV
- Mazagon Dock
- Midhani
- Bharat Forge (NS:)
- Delta Corp (NS:)
- Zydus Life
Conclusion:
Surprisingly, there are several candles that I could find where the moves were interesting and I had to go beyond the usual 25 candles that I end up choosing.
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.
Video attached:
Thank you!
Not SEBI Regd.
Shared purely for educational & informational purposes only.
