What is a ‘Shooting Star’
A shooting star is a type of candlestick formation that results when a security’s price, at some point during the day, advances well above the opening price but closes lower than the opening price.
For a candlestick to be considered a shooting star, the formation must be on an upward or bullish trend, and the distance between the highest price for the day and the opening price must be more than twice as large as the shooting star’s body. The distance between the lowest price for the day and the closing price must be very small or nonexistent.
NIFTY NEED TO CROSS 9830 TO AVOID SHOOTING STAR IMPACT.
BREAKOUT ABOVE 9850 FOR 9865-9888-9911NS.
End of …
As yesterday nifty candle did not confirm shooting star.
A mild consolidation may take place and nifty may move on.
Even NASDAQ index is on bull