Knowledge is power...

[shivashimoga]

Dear Rohan,
Handing man is only show the strength or weakness. if hanging man come after a downtrend then it called as Hammer and it is quite bullish. if the hammer appeared after a uptrend/swing then it called as Hanging man and it is bearish sign. it gives only to keep your concentration closely once you get any candlestick patterns. it will be too difficult to take position only candlestick pattern basis. Using candlestick pattern you can ready to take position because it tells you the truth!

normally hanging man with high volume or inverted hammer @ top with next day confirmation black candle with high volume is quit bearish. for both patterns next candle should be a black candle to get confirmation.

 

[rohangawale]

shivashimoga,

gr8 yaar, thanks for the information.
inshort if its in uptrend and confirmation comes then the pattern is bearish AND
if its in downtrend and confirmation comes then the pattern is bullish.

right sir

 

[shivashimoga]

Yes, true. analyzing candlestick is an art combin with science.

 

[shivashimoga]

I don't trade intraday. but if any others intrested then, you may trade using the bellow url. it works only with Nifty index because Nifty index is live

http://finance.**********/q/ta?s=^NSEI&t=5d&l=on&z=l&q=b&p=e377,e610


regards

 

[shivashimoga]

Monday, if market open weak and if it start traking support @ 4930 levels then I will exit my put options. If it breaks 4930 before 10.30 then I will hold my put options. my stoploss now is @ 5045 levels.

 

[sudoku1]

shivashimoga
if hanging man appears any where in the chart , wether its up or down, we have to shrt our position??

wrong.....
first of all , this pattern appears only on tops & not the bottoms.....
every candle pattern must b accompanied with confirmation in the nxt session with the opposite candle of the pattern......
in case of the hanging man pattern , the pattern if took place 2day means.......the rope was put around the bulls neck & the noose ready.....2morrow should b a black candle which closes below the pattern low.....which confirms that the noose has been tightened & the bull is hanged...
then the shorts come in with a closing stop abv the pattern high

 

[shivashimoga]

Buy Maruti above 771, with stoploss 749. Target 1001. 771 should close atleast 2 horurly candles.

 

[shivashimoga]

today I coved my PE of nifty 4800 @ 80 rupees. a decent profit of 45 rupees. bought T 33+2 brokerage and sold @ 80.

 

[shivashimoga]

Again I will re-enter NIFTY Put once it closes bellow 4930 or Enter PUT @ 5095 levels with stoploss of 5125.

 

[shivashimoga]

I am buying NIFTY if it close above 4907.00 @ 10.30, 2nd june 2008. with my stop-loss of 4825 levels. my immediate upside target is 5050. I will reverse my position if it breaks 4825 leaves. this time I am entering in futures.