Monday, May 21, 2012

Buy Reliance capital

Reliance capital is consolidating in the range of 290 300 since 8 sessions .
we have observed many candle stick  reversal signals in mean time like tweezer bottom , bullish engulfing,  tristar  a rare pattern and dragonfly doji all are there ...


Tristar Pattern

Description

This is a rare reversal pattern composed of three dojis. There are three days of dojis, or indecision. The middle day gaps above or below the first and third day. The length of the shadow should not be too long. Large volume confirms the pattern.

After a downtrend or an uptrend, the tristar formation signals indecision.

Market Opinion

Bullish or bearish.

Pattern
Description: Description: C:\avasaramworkspace\avasaramWeb\web\tutorials\candlesticks\Tristar Pattern_files\image001.jpg
Recommended to buy in cash / futures  in the range of 285 - 295 ...
stoploss 280 closing basis ...
target positional 315  336   366  398 >>> duration  6 months 
intraday  call  and targets 
buy at and above 291   targets  296  304  310 
stoploss 284.90

1 comment:

  1. Good recommendation and happy to see some kind of new pattern recognition as most of the time people try to find head and shoulder, flag, triangle of some old fashion

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