Itc share price candlestick chart
All rights reserved. For reprint rights: Times Syndication Service. Markets Data. Market Moguls. Expert Views. Technicals Technical Chart Visualize Screener.
Itc Chart Pattern
All rights reserved. For reprint rights: Times Syndication Service. Markets Data. Market Moguls. Expert Views. Technicals Technical Chart Visualize Screener. Commodities Views News. Forex Forex News Currency Converter. Market Watch. Pinterest Reddit. By Narendra Nathan. Since there are several trading rules based on candlestick chart patterns, let us study them in detail now. Bar chart vs Candlestick chart - A candlestick chart is also plotted with 4 share price data i.
However, traders prefer candlestick charts because they are visually more appealing. Candle Body - In a candlestick chart, the portion between open and close is highlighted as a thick line and is commonly known as the body of the candle. This is because the relationship between the opening and closing prices explains a lot about the action during the day and is much more important than the extreme trades, which are usually captured as high or low of the day.
If the closing price is above the opening price, it clearly shows that the bulls won the fight that day and, therefore, this is considered a bullish candle. Traditionally, the body of bullish candles is marked as white; several technical charting programmes now plot them as green to make them visually more appealing.
Similarly, if the price closes below the opening price, it reveals the strength of the bears. In such a case, the body of these bearish candles is either marked in black or red. The length of the body is also important. While a long green body shows strong bullishness , a long red body shows the severity of bearishness.
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Dragonfly Doji. Engulfing Bearish.
Analysts expect Nifty to trade rangebound. Nifty Next 50 should outperform Nifty50 from current levels. Nifty could test 9, this week. ITC shares flat as Nifty plummet.
The Bullish Engulfing pattern appears in a downtrend and is a combination of one dark candle followed by a larger hollow candle.
