Basics of Candlesticks

Suman kancharla is giving the brief on what was covered in the session: 

Hi Guys. Today it is very wonderful session taken by Ms. Deepa Madam. Which covers the below.

1. Basics of chart patterns and candle sticks like head and shoulders flag patterns. Example: Apollo hospital chart and wockhardt hospital charts
2. Basics of candle sticks
3. Importance of resistance and supports
4. Where to enter trade n setting target and stop loss.
5. Importance of volume when entering the trade
6. Once you find any pattern on monthly chart. Then drill that chart pattern to daily n weekly chart and study further before entering a trade
7. Most important is do paper trade for some time n once confidence is reached start trading.
8. Choose the style which suits us rather than what every one is following. Ex. Intraday, positional, Futures or options

Hope this helps. Frnds plz add your points also who have attended the session for the benefits of others. Thanks once again to MS. Deepa mdm for efforts today🙏🙏🙏👍👍. Gn all


                  

Shailesh Alimchandani continued:

1. Covered Difference between Fundamental and Technical Analysis.
2. Japanese Candlestick Charting, hollow /  Light Candlesticks indicates Buying pressure , Dark / Filled candlesticks indicates selling pressure
3. Parts of candlestick and their meanings, interpretations
4. Different Bullish, Neutral and Bearish candlestick patterns - single, two and three candle patterns eg. Hammer, Morning star, shooting star, evening star,
5. Trend indicating Chart patterns eg. Head and Shoulder, Flag, Double Top, Double Bottom, all with live examples
6. Important rules - when not to use candlestick.
7. Do paper trade/ mock / drill/ Virtual trade while learning
8. Never enter your trade without a stoploss




Yogesh Lassi further said: She explained really well. She wants us to emphasize on volumes support , and showed us how 3 common points of candles lets us draw line - which can act as support n resistance ..... Patterns can be observed i.e : flag , inverted head n shoulders or pattern forms in slanting way acc to candle formations....n we should not trade jus if we find hammer we t supposed to find many other confirmations like oscillators which r RSI,MACD n for oscillators she would try to conduct webinar within a week may be .... So overall clarity increased.... tysm mam☺

Mehul Shah in his words about what he could make out from the session: My Key takeaways from Deepa Mam's session on Learning Basics of Chart

Objective of group is not to share recommendations but to learn Trade in F&O based on learning of Fundamentals and Technical Skill sets.

Questions should arise in mind and never to hesitate to ask any basic/silly questions.

Exit on Stop Loss

Observe and be conscious about How we react to volatility v/s our Trade.

Look at what make sense personally that may be Fundamentals/Technicals/Market Information/Sources/Institutional actions

Red candles reflects charge of Bear showing Top to Bottom price of particular period as: High-Open-Close-Low. Whereas Green/White candle reflects charge of Bulls showing Top to Bottom price of particular period as: High-Closing-Opening-Low.

 Candlestick Patterns  and charts are brilliantly explained with live example in an interactive way has given me very valuable inputs and reviewing today recoding  step by step has helped me in my better understanding.

I got clarity on Single, Double and Triangle Candle patterns.

Through  Candlestick Patterns on charts I got  understanding on Head & Shoulder, Rectangle-double top & double bottom, Symmetrical Triangle and Flag patterns. Now I am also clear about Entry & Exit when chart shows movement of Resistance Line Breakouts or Support line Breakouts.

As suggested, I will start studying 4-5 Co's chart on routine basis and will be sharing with Group during weekends.

Intraday Trading Strategy is not advisable,  instead tracking charts and entering into Trade when reversal pattern happens.

Buy stock when resistance level is broken out with volume.

To observe trend and work accordingly​ so probabilities of making money will be higher.

Once again Thanks Deepa Mam & Puneetji for so kind to us. 🙏👍



 
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