Stocks To Keep A Close Eye On

[bunny]

OK, here are the rest bullish candles:
http://www.rohanshenoy.net/stocks/downloads/candle-scan-bullish-130709-closing.htm

PDFhttp://www.rohanshenoy.net/stocks/downloads/candle-scan-bullish-130709-closing.pdf

Not all bullish patterns have been scanned for, only the ones mentioned at the bottom of the file. Also, the three black crows is somewhat buggy since the candles have to be tall

 

[raj_hpking]

OK, here are the rest bullish candles:
http://www.rohanshenoy.net/stocks/downloads/candle-scan-bullish-130709-closing.htm

PDFhttp://www.rohanshenoy.net/stocks/downloads/candle-scan-bullish-130709-closing.pdf

Not all bullish patterns have been scanned for, only the ones mentioned at the bottom of the file. Also, the three black crows is somewhat buggy since the candles have to be tall

Thanks a million Bunny,

I have some doubts.

If u don't mind i want to know what exactly "bullish morning star" means.
I think it is one of sign from candle stick chart.

But what this predict. I gone thru your pdf but all shares are down from their previous closing then how can we call them bullish 2 day.

I didn't get this description: "Look for a tall black candle in a downward price trend. Following that, a small bodied candle of any color appears, one whose body gaps below the prior body. The last day is a tall white candle that gaps above the body of the second candle and closes at least midway into the body of the first day". What it suggest stock will move in uptrend or will move in downtrend.

I know my questions are very silly but i don't want to keep any confusion while trading.

Thanks,
Raj

 

[djsinha]

Thanks a million Bunny,

I have some doubts.

If u don't mind i want to know what exactly "bullish morning star" means.
I think it is one of sign from candle stick chart.

But what this predict. I gone thru your pdf but all shares are down from their previous closing then how can we call them bullish 2 day.

I know my questions are very silly but i don't want to keep any confusion while trading.

Thanks,
Raj

Hi Raj

"Morning stars" and "Island Reversal" are types of candlestick formations. You can google search to learn more about these. In a bullish morning star, it's not necessary that the second day should be marked by price closing above it's previous closing or candle being green. In the third day there should be a green candle and that completes the pattern.

Regards
DJ

 

[raj_hpking]

Hi Raj

In a bullish morning star, it's not necessary that the second day should be marked by price closing above it's previous closing or candle being green. In the third day there should be a green candle and that completes the pattern.

Regards
DJ

Thanks DJ,

It means that tomorrows closing would decide the pattern, means till today we can't say that these stocks are in morning star pattern if they close green tomorrow then and only then we can say that they are in morning star pattern and will be moving in uptrend.

Please correct me if i am wrong.

Regards,
Raj

 

[bunny]

Thanks DJ,

It means that tomorrows closing would decide the pattern, means till today we can't say that these stocks are in morning star pattern if they close green tomorrow then and only then we can say that they are in morning star pattern and will be moving in uptrend.

Please correct me if i am wrong.

Regards,
Raj

Yes, we have to wait for tomorrows closing before calling them "Morning bullish star". That is why I have mentioned "2nd day of ....". So these should be watched of they complete the pattern next day.

I have just started using Bollinger Bands(20,2) and I have this observation:
The candlestick pattern makes most sense when it is near the either Bollinger Bands.

Ex: Algorithmically, two candles may form bullish engulfing near the upper BB. But if you observe, price action does not move up later. Thus BB could save you from potentially failing candle chart signals.

Similarly, after today's (130709) closing, have a look at daily charts of JPASSO(BSE: 532532) and JPHYDRO(BSE: 532627). Both have pierced the lower BB and also formed the Hammer candle as well as 2nd day of bullish morning star. So if were to involve trader psychology, we could expect a breakout and revsersal with substantial volumes. Some may argue with the hammer candle because some sources(line Thomas Bulkowski) say that the lower shadow must be atleast twice the body.

 

[chaitanyagoa]

Hello Savantjiii,

Any buying opportunities....... Do u have any list?

 

[djsinha]

Thanks, we can expect a bullish reversal if:
NIFTY opens above 4005 and closes above 4045
SENSEX opens above 13420 and closes above 13564

Else, fierce bearish continuation. Also, we are at the same dangerous point where we gapped 2000 SENSEX pts (election day). So when you look on a larger timeframe, we can identify an island reversal pattern. The failure rate for top island reversal is only 13%, and lets also not forget that the overlapping top head and shoulder pattern with neckline already broken which has still lower failure rate of only 7%.

If you calculate the lower target of SENSEX using the measure rule then its around 12, 285 (21% down from top), and if you calculate using island reversal, its around 12, 060(10% down from gapping level).

Now lets wait for the moment!

Thanx for the detailed analysis and also thanx for the pdf file. Good work done.
But there is one doubt. The first candle of a bullish morning star should be a long red candle. But y'day's candle is not that long long to qualify for a morning star formation.
Let's see what happens tomorrow.

Regards
DJ

 

[SavantGarde]

Hi Chait,

Nothing Yet, Till We Have A Confirmed Short Term Bottom In Place, Perhaps May Have Something For Wednesday, But It Will Depend On What Happens Tomorrow.

Happy & Safer Investing

SavantGarde

Hello Savantjiii,

Any buying opportunities....... Do u have any list?

 

[bunny]

Thanx for the detailed analysis and also thanx for the pdf file. Good work done.
But there is one doubt. The first candle of a bullish morning star should be a long red candle. But y'day's candle is not that long long to qualify for a morning star formation.
Let's see what happens tomorrow.

Regards
DJ

Point, but I have always found this "long" candle confusing. Long means how much long? If you can put a figure to that, I can modify my algorithm and update the files.

 

[djsinha]

Point, but I have always found this "long" candle confusing. Long means how much long? If you can put a figure to that, I can modify my algorithm and update the files.

Hi Bunny

No need of quantifying 'long'. Keep the code as you have kept now. We need to visually filter out and keep long candle ones. Because this 'long' will depend on the previous candles and if candle of day 1 seems to the eye as long enough compared to previous candles, we call it a 'morning star'.

Regards
DJ