𝗟𝗘𝗔𝗥𝗡𝗜𝗡𝗚 𝗦𝗘𝗥𝗜𝗘𝗦: 𝗖𝗔𝗡𝗗𝗟𝗘𝗦𝗧𝗜𝗖𝗞 𝗣𝗔𝗧𝗧𝗘𝗥𝗡𝗦 (𝗣𝗔𝗥𝗧-𝗜𝗜𝗜)
[𝗧𝗥𝗔𝗗𝗘 𝗥𝗘𝗣𝗟𝗔𝗬]
DATE: 13th Dec,20th Dec 2024
TRADE LOGIC: Trend Reversal with "𝗗𝗼𝗷𝗶 𝗖𝗮𝗻𝗱𝗹𝗲𝘀" confirmation along with EMA.
Timeframe: 15 mins
Indicators used:
1. Exponential Moving Average [EMA9]
2. Volume Indicator with MA line
3. William Fractals [Periods:4]
> 𝗗𝗢𝗝𝗜 𝗖𝗔𝗡𝗗𝗟𝗘 𝗢𝗩𝗘𝗥𝗩𝗜𝗘𝗪:
•A Doji forms when the open and close of a candlestick are nearly or very close to equal.
•It indicates the indecision between buyers and sellers which means that the market is rather neutral; neither buyers nor sellers prevail to push the price as per trend.
•It commonly takes place at the top or bottom of a trend.
•If the doji forms in an uptrend or downtrend, this is normally seen as significant, as it is a signal that the buyers are losing conviction when formed in an uptrend and a signal that sellers are losing conviction if seen in a downtrend.
• Types of Doji: Neutral, Long-legged, Gravestone, Dragonfly
𝗧𝗥𝗔𝗗𝗘 𝗦𝗨𝗠𝗠𝗔𝗥𝗬:
> Banks were bullish on 13th December after initial selling creating a short-covering scenario once sellers failed to push the price further downward.
> Similarly, on other two stocks buyers failed to push the price further indicating a reversal from top.
***Note: The price > EMA (bullish) and price < EMA (bearish). A retest confirmation is always better for a good trade***
𝗧𝗥𝗔𝗗𝗘 𝗥𝗘𝗦𝗨𝗟𝗧𝗦:
1. Kotak Mahindra Bank (1770 to 1808) [2.15%]
2. Axis Bank (1128 to 1153) [2.21%]
3. Eicher motors (4784 to 4722) [1.3%]
4. Tata Chemicals (1046 to 1029) [1.62]
**Experienced Traders already know these things, shared as a learning for new traders**
𝐒𝐭𝐚𝐲 𝐭𝐮𝐧𝐞𝐝 𝐟𝐨𝐫 𝐏𝐚𝐫𝐭-𝗜𝗩
𝗡𝗢𝗧𝗘: This is only for Educational Purpose and no further Trading recommendations on this stock. Indicators are just a confirmation for your direction but the actual movement depends on various factors.
Please manage your Risk Reward Ratio to grow your wealth.
#𝙀𝙖𝙧𝙣𝙞𝙣𝙜_𝙣𝙚𝙚𝙙𝙨_𝙇𝙚𝙖𝙧𝙣𝙞𝙣𝙜
#𝙁𝙤𝙡𝙡𝙤𝙬 𝙛𝙤𝙧 𝙢𝙤𝙧𝙚
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