This week's candle is a clear bear candle with small tail on either side. The upper tail longer. The body of the candle is below the body of the Doji candle of the previous week. I doubt whether this can be called as 'Dark Cloud Cover'.
Investopedia explains 'Dark Cloud Cover' Essentially, the large black candle is forming a "dark cloud" over the preceding bullish trend.
The dark cloud must have a closing price that is: 1) within the price range of the previous day, but 2) below the mid-point between open and closing prices of the previous day.
HDFC saw block deal of about 14.5 crore shares today. Citigroup sold these shares & other FII's picked up shares from citigroup through open market purchase. Now the offloading by Citigroup should have been shown in FII cash sell today which is not the case. Isn't Citigroup classified as FII registered in India ?
There is a good illustration of the nature of anger given by the Perfect Master Ramakrishna. He was from the area around Calcutta and the Ganges flowed by his ashram. One day Ramakrishna was standing by the river with his disciples and, pointing to a boat moving upstream, he gave this parable on anger.
The boatman rowing upstream sees another boat, far off, moving downstream towards him. He shouts. "Hey, watch out! Change your course, look out!" But the boat continues to rush towards him and, as it comes closer, he sees that there is nobody in the boat. Now is he going to continue to yell at the boat to change its course? No, he is simply going to change his own course and steer around the onrushing boat.
Ramakrishna said, "The one who is angry is like a boat which has no captain. When you see there is no captain, steer away. Don't stand and throw words back at the boat in anger. Steer aside. Otherwise neither boat has a captain."
DR Sir .... Bus ek LC bhi ho jaye baad mein dusre din UC kardena ... Lolzzzzz..... nilesh Ji .... The buying is just reflecting the block deal of HDFC .... Keep a watch on 730
@ DR Dark Cloud Cover: It is a dual-candle pattern that is a top reversal after an uptrend or, at times at the top of a congestion band. The first day (week) of this two-candle pattern is a strong real white body. The second day's price opens above the prior session's high ( that is, above the top of the upper shadow) However, by the end of the second day's (week's) session, the market closes deeply within the prior day's (week's) body. - Steve Nison
Points against: 1. The previous week's candle is not white. It is red. 2. This week's price did not open above the previous week's high. And finally, 3. This week's candle did not close within the prior week's body
If at all you want to name these candle pattern, You can call them aptly as 'Upside Gap Two Crows' This is again a bearish signal. May be no confirmation is needed on the following day. Regards, LV
I am also of the same opinion. But previous week is not red it is green. Please check up once again. Pre.week opening price is 5382.1 and low is 5351.4 and this is also as per iChart.
I am also trying to get TA file 1. I am unable to locate it. If somebody can give link it will be of great help for learning
I am talking about Nifty Spot. In Icharts please select Nifty - not Nifty-1M - you will get a red candle for the previous week.
Please consider this as only an academic discussion. It is because DR asked me to open my cards I narrated the above piece. Otherwise I prefer to remain quiet.
Please somebody help me by giving OHLC of last week since the price what I am getting in iChart is different from LV price. I am seeing only NIFTY SPOT. Confirmation is needed to rule out the possibility of seeing a incorrect chart.
Unbelievable work gone into producing such a wonderful detailed excels. You proved successes don’t come... Just like that! Thank you very much for your effort and accuracy. Regards, Shivakumar
29 comments:
@ Ilango
This week's candle is a clear bear candle with small tail on either side. The upper tail longer. The body of the candle is below the body of the Doji candle of the previous week. I doubt whether this can be called as 'Dark Cloud Cover'.
If I am wrong please bear with me sir.
Regards,
LV
to me it looks like dark cloud in weekly
Investopedia explains 'Dark Cloud Cover'
Essentially, the large black candle is forming a "dark cloud" over the preceding bullish trend.
The dark cloud must have a closing price that is:
1) within the price range of the previous day, but
2) below the mid-point between open and closing prices of the previous day.
Read more: http://www.investopedia.com/terms/d/darkcloud.asp#ixzz1nJ28xYqG
Previous week
OHLC is
5382.10, 5606.70, 5351.40, 5564.30
this week
5561.90, 5629.95, 5405.90, 5429.30
Mid point of previous candle comes
5606.70-5351.40=255.3/2=127.65
5629.95-127.65=5502.3
this week close is 5429.30 (73 points lower than mid point)
Venkatapathy Sir
Plz show ur cards
I know if you have pointed out there is some catch
Can anybody throw light on this
FII figure +8955.3 cash
where as
INDEX FUTURES +338.01
INDEX OPTIONS +1102.54
STOCK FUTURES -672.46
STOCK OPTIONS-25.86
F/O net = 742.23
(Bhavcopy experts plz contribute)
Master,
FII net buy 8955.3 ????????????????
Nilesh
Hold your breath
Mkt gonna do UC on Monday
Lolzzzzzzzzzz
it is HDFC Citibank deal will not have any effect on markets
HDFC saw block deal of about 14.5 crore shares today. Citigroup sold these shares & other FII's picked up shares from citigroup through open market purchase. Now the offloading by Citigroup should have been shown in FII cash sell today which is not the case. Isn't Citigroup classified as FII registered in India ?
Quite interesting, it's for sure due to HDFC thing! My chart of HDFC has got completely out of shape due to the volume bar!
i am quite concerned as regards the health of Sanjay bhai.
i wish him all the best for good health
weekend reading...
Parable on Anger
by Shri Ramakrishna Paramhamsha
There is a good illustration of the nature of anger given by the Perfect Master Ramakrishna. He was from the area around Calcutta and the Ganges flowed by his ashram. One day Ramakrishna was standing by the river with his disciples and, pointing to a boat moving upstream, he gave this parable on anger.
The boatman rowing upstream sees another boat, far off, moving downstream towards him. He shouts. "Hey, watch out! Change your course, look out!" But the boat continues to rush towards him and, as it comes closer, he sees that there is nobody in the boat. Now is he going to continue to yell at the boat to change its course? No, he is simply going to change his own course and steer around the onrushing boat.
Ramakrishna said, "The one who is angry is like a boat which has no captain. When you see there is no captain, steer away. Don't stand and throw words back at the boat in anger. Steer aside. Otherwise neither boat has a captain."
DR Sir .... Bus ek LC bhi ho jaye baad mein dusre din UC kardena ... Lolzzzzz..... nilesh Ji .... The buying is just reflecting the block deal of HDFC .... Keep a watch on 730
@ DR
Dark Cloud Cover:
It is a dual-candle pattern that is a top reversal after an uptrend or, at times at the top of a congestion band. The first day (week) of this two-candle pattern is a strong real white body. The second day's price opens above the prior session's high ( that is, above the top of the upper shadow) However, by the end of the second day's (week's) session, the market closes deeply within the prior day's (week's) body. - Steve Nison
Points against:
1. The previous week's candle is not white. It is red.
2. This week's price did not open above the previous week's high. And finally,
3. This week's candle did not close within the prior week's body
If at all you want to name these candle pattern, You can call them aptly as 'Upside Gap Two Crows'
This is again a bearish signal. May be no confirmation is needed on the following day.
Regards,
LV
Again @DR
Previous week's OHLC: 5574.2; 5606.7; 5545.2; 5564.3
This is as per ICharts.
LV
@ LV
I am also of the same opinion. But previous week is not red it is green. Please check up once again. Pre.week opening price is 5382.1 and low
is 5351.4 and this is also as per iChart.
I am also trying to get TA file 1. I am unable to locate it. If somebody can give link it will be of great help for learning
@ Jayaraman
I am talking about Nifty Spot. In Icharts please select Nifty - not Nifty-1M - you will get a red candle for the previous week.
Please consider this as only an academic discussion. It is because DR asked me to open my cards I narrated the above piece. Otherwise I prefer to remain quiet.
With regards,
LV
@ LV
The pattern is Bearish Harami. The explanation taken from " Profitable Candlestick Trading by Stephen W.Bigalow is given below:
Criteria
1. The body of the first candle is white: the body of the second candle is black
2. The uptrend has been apparent. A long while candle occurs at the end of the trend.
3. The second day opens lower than the close of the previous day and closes higher than the open of the prior day.
4. For a reversal signal, confirmation is needed. The next day should show weakness.
Last Week OHLC 5382 / 5607 / 5351 /5564
Current Week OHLC 5561 /5630 /5406 /5429
@LV
Thanks for your reply I felt this is really going to add value to our learning.
I am also referring NIFTY WEEKLY Chart. Not NIFTY 1M. Please correct me if I am seeing the wrong chart
Please somebody help me by giving OHLC of last week since the price what I am getting in iChart is different from LV price. I am seeing only NIFTY SPOT. Confirmation is needed to rule out the possibility of seeing a incorrect chart.
@ Jayaraman
In the weekly chart last week NS is doji. The values are given in my previous post.
Regards,
LV
@ Ilango
There seems to be differences in the candle pattern between NS and NF. I was talking about NS and you were, probably, seeing NF.
I should have verified. Sorry sir.
Regards,
LV
@ LV
You are seeing 17th Feb Chart. Weekly Chart is for the entire week. In the chart setting change it from daily to weekly.
@ Ilango
I was viewing J charts premium. That misled me. I am wrong. You are right.
My sincere apologies.
Regards,
LV
@ DR
Master is right. I am wrong. Sorry. I was reading wrong chart.
Sorry.
As usual I committed blunder.
Regards,
LV
@ Jayaraman
Now must have read where I went wrong.
Strictly speaking it is a harami. You are right.
Sorry.
LV
@ Lv
Thanks for confirmation.
Regards
JJ
Unbelievable work gone into producing such a wonderful
detailed excels. You proved successes don’t come... Just like that!
Thank you very much for your effort and accuracy.
Regards,
Shivakumar
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