top 10 best candlestick trends in Bank Nifty:
Bullish Engulfing Pattern: The bullish engulfing pattern is a two-candlestick pattern where a small red candle is followed by a larger green candle that completely engulfs the previous candle. This pattern suggests that the buyers have overwhelmed the sellers and is often seen as a bullish reversal signal.
Bearish Engulfing Pattern: The bearish engulfing pattern is the opposite of the bullish engulfing pattern. It is a two-candlestick pattern where a small green candle is followed by a larger red candle that completely engulfs the previous candle. This pattern suggests that the sellers have overwhelmed the buyers and is often seen as a bearish reversal signal.
Hammer Pattern: The hammer pattern is a single-candlestick pattern that has a long lower shadow and a small real body at the top of the candlestick. This pattern suggests that the sellers tried to push the price lower, but the buyers stepped in and pushed the price back up, indicating a potential bullish reversal.
Hanging Man Pattern: The hanging man pattern is similar to the hammer pattern, but it appears at the top of an uptrend instead of the bottom. It has a long lower shadow and a small real body at the top of the candlestick. This pattern suggests that the buyers tried to push the price higher, but the sellers stepped in and pushed the price back down, indicating a potential bearish reversal.
Bullish Harami Pattern: The bullish harami pattern is a two-candlestick pattern where a small red candle is followed by a larger green candle that is completely contained within the previous candle's body. This pattern suggests that the buyers are gaining strength and is often seen as a bullish continuation signal.
Bearish Harami Pattern: The bearish harami pattern is the opposite of the bullish harami pattern. It is a two-candlestick pattern where a small green candle is followed by a larger red candle that is completely contained within the previous candle's body. This pattern suggests that the sellers are gaining strength and is often seen as a bearish continuation signal.
Morning Star Pattern: The morning star pattern is a three-candlestick pattern that appears at the bottom of a downtrend. It starts with a long red candle, followed by a small-bodied candle that gaps lower, and ends with a long green candle that engulfs the previous two candles. This pattern suggests that the sellers are losing control, and the buyers are gaining strength, indicating a potential bullish reversal.
Evening Star Pattern: The evening star pattern is the opposite of the morning star pattern. It is a three-candlestick pattern that appears at the top of an uptrend. It starts with a long green candle, followed by a small-bodied candle that gaps higher, and ends with a long red candle that engulfs the previous two candles. This pattern suggests that the buyers are losing control, and the sellers are gaining strength, indicating a potential bearish reversal.
Doji Candlestick: A Doji candlestick has a small real body and appears when the opening and closing prices are very close or even identical. This pattern suggests that the market is indecisive and can
Bullish Three Line Strike: The bullish three line strike pattern is a four-candlestick pattern that appears during a downtrend. It starts with three red candles, each with a lower low than the previous candle, followed by a long green candle that completely engulfs the previous three candles. This pattern suggests a strong reversal in the trend, with buyers taking control.
Bearish Three Line Strike: The bearish three line strike pattern is the opposite of the bullish three line strike. It appears during an uptrend and starts with three green candles, each with a higher high than the previous candle, followed by a long red candle that completely engulfs the previous three candles. This pattern suggests a strong reversal in the trend, with sellers taking control.
Shooting Star Pattern: The shooting star pattern is a single-candlestick pattern that appears at the top of an uptrend. It has a long upper shadow and a small real body at the bottom of the candlestick. This pattern suggests that the buyers tried to push the price higher, but the sellers stepped in and pushed the price back down, indicating a potential bearish reversal.
Inverted Hammer Pattern: The inverted hammer pattern is similar to the shooting star pattern but appears at the bottom of a downtrend. It has a long lower shadow and a small real body at the top of the candlestick. This pattern suggests that the sellers tried to push the price lower, but the buyers stepped in and pushed the price back up, indicating a potential bullish reversal.
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