Weekly Market Research Report 22-06-19 (Boring Candle)

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Boring Candle Pattern

Understanding candlestick patterns goes far beyond just remembering and recognizing certain formations. Every candlestick pattern is a single battle in an overall war and the 4 elements of the candlestick tell us who is ahead, who is pulling back, who is in control and who has a better chance of winning the next battle.

  • “Rally Base Drop”: In Rally Base Drop starting candle will be Green, Boring candle will be between starting Candle and last candle It can be one or more boring candles) and last candle will be Red which indicate Falling trend.
  • “Drop Base Rally”: In Drop Base Rally starting candle will be Red, Boring candle will be between starting Candle and last candle (It can be one or more boring candles) and last candle will be Green which indicate the Rising trend.
  • “Rally Base Rally”: In Rally Base Rally Starting candle will be Green, Boring candle will be between starting candle and last candle It can be one or more boring candle) and last candle will be Green which indicates the Rising trend.
  • “Drop Base Drop” : In Drop Base Drop, Starting candle will be Red, Boring candle will be between starting candle and last candle It can be one or more boring candle) last candle will be Red which indicates Falling trend.

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Drop Base Drop Pattern in HINDUNILVR (Dly Chart).

Looks Weak.

Can be: 1742, 1696 & 1649.

Looks Good Above: 1812

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Drop Base Drop Pattern In KAJARIACER (Weekly Chart)

Looks Weak.

Can be: 507, 454 & 400.

Looks Good Above: 614

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Falling Wedge in GMRINFRA

Looks Good Above: 15.60

Can be: 17.15, 18.70 & 20.25

Looks Weak Below: 15.10

Used Retracement to draw level.

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