TATA STEEL: HOLDING BELOW 500 WILL SEE 480-470 LEVELS. ONLY ABOVE 521 CAN SEE 540+
RELIANCE: TRADING BELOW 1250 CAN SEE 1221-1200 LEVELS. ABOVE 1281 CAN SEE 1300-1320.
ICICIPRULI: ABOVE 353 CAN SEE 360-375. BELOW 320 CAN SEE 310-300.
Day: March 9, 2019
NIFTY FORMS TRI- STAR PATTERN.
DEFINITION of Tri-Star A tri-star candlestick pattern signals a possible reversal in the current trend. This pattern forms when three consecutive doji candlesticks appear at the end of a prolonged trend. The first doji indicates indecision between the bulls and the bears, the second doji gaps in the direction of the prevailing trend and the third doji changes the market’s sentiment after the candlestick opens in the opposite direction of the trend. The shadows on each doji are relatively shallow signaling a temporary reduction in volatility.
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