Interesting Candlestick Patterns for the week ending 14-7-23

Each week, I perform a sectoral as well as my Watchlist review using monthly as well as weekly charts. I have shared the reviews for several weeks in a row and then I thought of making the whole review process as well as the outcome more interesting and that is when I thought of starting a new series titled “Interesting Candles”.

The intent is to share with the readers the stocks that have thrown up interesting price action at the end of the week and appear to be either adding to the bullish/bearish sentiment or simply it is just an interesting candle that has either gained or lost a significant % during the week. While doing so, I realized that if the reader either watches the video or even attempts to look at the charts, it would help him/her get a good learning experience.

If I write about the type of the candle, and what it indicates, it would become too long a post so you may follow the above approach. All charts used here are weekly but I may have also included some based on their daily patterns as these stocks are forming part of my Watchlist and are viewed on a regular basis.

Interesting Candlestick Patterns with at 19564 & at 44819:

  1. BSE +7%
  2. Eicher Motors (NS:) +5%
  3. Hindalco (NS:) +5%
  4. Infosys (NS:) +7%
  5. Lovable Lingerie (NS:) +13%
  6. PB Fintech (NS:) +5%
  7. Power Grid (NS:) -6%
  8. UPL (NS:)
  9. 5 Paisa Capital
  10. 63 Moons +11%
  11. Anand Rathi +14%
  12. Delta Corp (NS:) -25%+
  13. Easy Trip (NS:) Planners +6%
  14. Gillette India (NS:) +13%
  15. Godrej Properties (NS:) +5%
  16. HDFC AMC +5%
  17. Hind Petro -6%
  18. HPL Electric Power +22%
  19. Kajaria Ceramics (NS:) +7%
  20. Kalyan Jewellers (NS:) +12%
  21. Kellton Tech Solutions +17%
  22. Mazagon Dock +23%
  23. NELCO +21%
  24. OFSS +5%
  25. Zomato (NS:) +12%

Conclusion/Views for the next week:

During the week, Nifty hit a new ATH at 19595 and it also ended at a new ATH of 19564. My experience has been that as and when a new ATH is hit, some amount of profit booking does kick in and that is natural as well. GIFT NIFTY is indicating a -29 reading for the week ending and therefore, a flat start appears to be on the cards.

The most stocks to watch out for the next week in my view would be the banking stocks as Bank Nifty is 800 points away from its ATH and further upside in Nifty would be decided upon which side Bank Nifty moves. Will it widen the gap with the AUTH, or it would move towards the ATH?

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