Weekly Market Research Report 23-03-19

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Breakout in HINDALCO (Daily Chart)

Can Be: 216, 227, 234; Looks Weak Below: 203

Looks Good

Can Be: 216, 227 & 234

Looks Weak Below: 203

Use Extension to draw level.

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Tasuki Upside Gap candlestick Pattern In BAJAJELEC (Daily chart).

Looks good Above: 529; Can Be: 540, 550 & 560; Looks weak Below: 515

Looks good Above: 529

Can Be: 540, 550 & 560

Looks weak Below: 515

Tasuki Upside Gap: The Upside Gap Tasuki (Also known as the Bullish Tasuki Gap or the Upward Gap Tasuki) is a three-candle continuation pattern.

If you think you’ve spotted an Upside Gap Tasuki, start looking for these criteria:

Firsta clear uptrend must be present, ending with a green candle.

Secondthat uptrend must gap up to a large green candle.

Thirda red candle must follow the green candle.

Fourth and finally, the red candle must open inside the green candle’s real body and close below it.

Note that the red candle does not need to fully close the gap. So to clarify, that means that the first two candles must be Green and the third candle must be Red.

The Second and Third candles must be opposing colors to fit into a Gap Tazuki pattern.

Finally, the second two candles are typically about the same size.

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Advance block candlestick Pattern In NCC (Daily Chart).

Looks weak Below: 109; Can Be: 101, 97 & 93; Looks good Above: 113

 

Looks weak Below: 109

Can Be: 101, 97 & 93

Looks good Above: 113

Advance Block: The bearish advance block candlestick is comprised of three Green upward candlesticks in a row with each candlestick’s opening below the close of the previous candlestick. Each candlestick also has a smaller range between its open and closer than the previous candlestick. The advance block pattern is somewhat indicative as:

The three white soldiers candlestick pattern, but it is bearish in nature with a long upper shadow.

Unlike The three white soldiers pattern, the advance block pattern has consistently long candles and it shows signs of weakness.

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