The Dark Cloud Cover, in candlestick charting, is a pattern where a black candlestick follows a long white candlestick. It can be an indication of a future bearish trend.
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 or 50% between open and closing prices of the previous day make the case stronger.
First at 730 & later at 710 - Dark Cloud Cover Candlestick pattern haunted traders. In near term only above 730 -it will be better sign that traders look to buy the stock else it can trouble.
Levels of 730 & 710 both are haunting Auropharma & Sunpharma.
Trading Strategy Below 710 -we can see auropharma running close to 620-630 zone & below 620 -next support in the zone 580-590 as target zone.
You would love to read my previous update
Auropharma 2016 Diary - includes all the previous updates - you should click the charts nested in the analysis to read them.
Going below recent low of 652-653 -likely we get small move downside in 645-647 zone. We shall be searching for upside move as well so be careful any push upside above 660 & sustaining above that level.
Trade ativo
⋅
11:02 Hrs 11th April2017
Last Price@658
Just Kissed 660 mark - playing in the area 653-657 & later moving above 660 convincingly can make Auro also stock for the day for short term push upside atleast till 680-685. Moving above 710 can push Auro sharp upside or sellers can come back till 710 is intact on upside.
Came in the desired zone of 653-655 -Let us see if we get push above 660 in next session.
Comentários
nalinakshi
⋅
very good analysis i think it is reaching its price zone
it should be seen where it will peirce into price zone
shiv2798
⋅
sir in my understanding the formation of Dark Cloud cover is because the institutional investors are exiting from their holding ,in this case repeating the same again shows that institutional investor is stuck because of reform in US , so he is pushing the price up and making small traders to believe in holding the price level then he is selling off( his or her) stocks ,
I hope you will give insights if I'm wrong in my understanding
Thanks
WaveTalks
⋅
@shiv2798, It is falling so reasons will automatically be associated with it or get attached with Auro.
it should be seen where it will peirce into price zone