Opinions requested on PNB

[bikashkumar11]

Re: Any Bull patterns in SBI?

hi...can anybody provide....options stocks list (outside nifty 50 index)..which have ample liquidity...and diffrence between ask-bid is not big...so that we can easily trade in them.... thnkyou

 

[rajeabc]

Re: Any Bull patterns in SBI?

Hello all,
SBI seems to be having a bull run (for various reasons). Wanted to know how does it look technically. Are there any bull patterns forming up? Any experts tracking this counter?

Thanks very much in advance.

normally any pattern form when there is fluctuation in the price and volume.
SBI is in a bull run since Mid April 2010 and following rising three(some time more.but pattern is intact) candle continuation pattern. When a stock is very strong, Indicators might show that it is over bought and it may cool down(consolidate) without price falling much.

so be careful if you are planning to short. It might take your stop loss unless market is falling.

 

[pavvu_kk]

Re: Any Bull patterns in SBI?

normally any pattern form when there is fluctuation in the price and volume.
SBI is in a bull run since Mid April 2010 and following rising three(some time more.but pattern is intact) candle continuation pattern. When a stock is very strong, Indicators might show that it is over bought and it may cool down(consolidate) without price falling much.

so be careful if you are planning to short. It might take your stop loss unless market is falling.

Thanks for the reply.
I'm actually going long on it

 

[madhuri_mukerji]

Re: Any Bull patterns in SBI?

SBI is making three white soldiers pattern,not rising three.

 

[rajeabc]

Re: Any Bull patterns in SBI?

It's name is three white soldiers,not rising three.

Madhuri , may be you are refering a different pattern . I meant three rising candle only.

The Rising Three Methods bullish continuation pattern occurs in a bull market, where during an uptrend the market rests before resuming the trend. The bullish trends break is reflected by small candles that all stick to a strict market range formed by the aggressive move on day one.

A typical explanation for this type of formation might that the market is slowly digesting the relatively large moved reflected by day one. The small daily ranges in the middle candles often precede significant economic reports and FX moves. Such periods of relative inactivity and tight trading are common. Rising Three Methods is confirmed where a blue candle dives up to new highs reinstituting the bullish trend.

Number of Middle Candles
In a picture perfect formation the middle candles number three. But realistically the pattern may have two, four or even five candles. Individually each middle candle may be a star or Doji, red or blue.

Middle Candle Wicks
Important to note is that each middle candle wick needs to stay within the first candles high/low range to signal a strong continuation signal. With the bullish Rising Three Methods this is especially important for the lows. Should if a wick trades to a low below the first large blue candles low, it casts doubt over the strength of the continued uptrend.

 

[rajeabc]

Re: Any Bull patterns in SBI?

Thanks for the reply.
I'm actually going long on it

I think you can wait.

 

[madhuri_mukerji]

Re: Any Bull patterns in SBI?

Raj ,

I have seen the SBI chart,and talking about it's candle formation.It is making three white solders pattern.Rising three is bullish pattern but there must be three black candles between two white candles.

 

[rajeabc]

Re: Any Bull patterns in SBI?

Raj ,

I have seen the SBI chart,and talking about it's candle formation.It is making three white solders pattern.Rising three is bullish pattern but there must be three black candles between two white candles.

Madhuri , Are you talking about recent run from 08/09/2010 ? ...
I was refering it for last 2 months.... Any way you could be right in what you see.
Good Luck

 

[madhuri_mukerji]

Re: Any Bull patterns in SBI?

checkin..!!

 

[madhuri_mukerji]

Re: Any Bull patterns in SBI?

Well,I was talking abt daily chart.Are u talking abt weekly..?Anyway,there is a rising three on weekly.though not a perfect rising three,but ,can be considered.