Group 1 - TA Assignment

Technical Analysis
Two & Three Candlestick Charts

Analysis of :
1. Aditya Birla Fashion & Retail
2. Dabur India Ltd.
Submission by:
Alka Rajpal 2021007
Mahendra Singh 2021023
Aditya Birla Fashion & Retail
Two candlestick charts
1. Bullish Engulfing
On 5th Dec '22 the Engulfing Bullish candlestick is observed. The bullish engulfing
candle encourages traders to assume a long position. It means that traders should
buy the stock and hold on to it, with the intention of selling it in the future at a higher
price, but in case of this stock it didn't quite happen and the prices fell after this
candle formation.
2. Bearish Engulfing
On 6th Dec '22 the Engulfing Bearish candlestick is observed. A bearish engulfing
pattern is a technical chart pattern that signals lower prices to come, and in the case
of this stock it can be clearly observed that the prices fell after this candle chart's
formation
1. Bullish Harami
A bullish harami is a candlestick chart indicator used for spotting reversals in a

bear trend. On 28th March '22, this is observed and after that the reversal of the
Bearish trend is clearly visible.
2. Bearish Harami
A bearish harami is a candlestick chart indicator for reversal in a bull price

movement. On 21st October '22, this is observed and after that there is a reversal
in the Bullish trend and the prices fell after this chart formation.
Three candlestick charts
1. Morning Star
A morning star is formed after a downward trend and signals the beginning of an
upward movement of prices. It is a signal of a reversal in the prior price trend.On
28th Nov '22 this formation is seen and after that it can be seen that the price of
the stock increased.
2. Evening Star
An evening star is a candlestick pattern used by technical analysts to predict

future price reversals to the downside. On 1st Sep '22 this pattern is seen and it is
observed that after that the price of the stock fell which this chart in general
indicates.
1. Three White Soldiers
Three white soldiers is a bullish candlestick pattern that is used to predict the
reversal of the current downtrend in a pricing chart. On 18th Oct '22 this pattern is
seen and it can be seen that the chart shows green candles after this pattern
indicating rising stock prices.
2. Three Black Crows
The three black crows candlestick pattern is considered bearish reversal pattern.
Consisting of three consecutive bearish candles at the end of a bullish trend, the
three black crows signals a shift of control from the bulls to the bears. This pattern
is observed from 28th Nov '22 and it's clearly visible how bullish trend prevails
after that through the following red candles.
Dabur
1. Bullish Engulfing
On 1st July '22 the Engulfing Bullish candlestick is observed. The bullish engulfing
candle encourages traders to assume a long position. It means that traders should
buy the stock and hold on to it, with the intention of selling it in the future at a higher
price, and this proves to be true in case of Dabur as the prices increase after this
pattern is observed.
2. Bearish Engulfing
On 12th Dec '22 the Engulfing Bearish candlestick is observed. A bearish engulfing
pattern is a technical chart pattern that signals lower prices to come, and in the case
of this stock it can be clearly observed that the prices fell after this candle chart's
formation
Dabur
1. Bullish Harami
A bullish harami is a candlestick chart indicator used for spotting reversals in a

bear trend. On 23rd Nov '22, this pattern is observed and after that the reversal of
the Bearish trend is clearly visible through the green candles that is followed.
2. Bearish Harami
A bearish harami is a candlestick chart indicator for reversal in a bull price

movement. On 30th Nov '22, this is observed and after that there is a reversal in
the Bullish trend and the prices fell after this chart formation.
Dabur
1. Morning Star
A morning star is formed after a downward trend and signals the beginning of an
upward movement of prices. It is a signal of a reversal in the prior price trend.On
28th Nov '22 this formation is seen and after that it can be seen that the price of
the stock increased.
2. Evening Star
An evening star is a candlestick pattern used by technical analysts to predict

future price reversals to the downside. On 20th Aug '22 this pattern is seen and it is
observed that after that the price of the stock fell which this chart in general
indicates.
Dabur
1. Three White Soldiers
Three white soldiers is a bullish candlestick pattern that is used to predict the
reversal of the current downtrend in a pricing chart. On 7th Nov'22 this pattern is
seen and it can be seen that the chart shows green candles after this pattern but
the closing stock prices are not increasing proving it to not be a very good
indicator
2. Three Black Crows
The three black crows candlestick pattern is considered bearish reversal pattern.
Consisting of three consecutive bearish candles at the end of a bullish trend, the
three black crows signals a shift of control from the bulls to the bears. This pattern
is observed from 14th Nov '22 and it's clearly visible how bullish trend prevails
after that through the following red candles.
Analysis
It is observed that:
1. Bullish EngulfingChart didn't show the
supposed trend in ABFRL.
2. Bearish Engulfing Chart showed the
supposed trend in both the companies'
stocks.
3. Bullish Harami pattern in both the stocks
show the reversal of the Bearish Trend.
4. Bearish Harami pattern in both the stocks
show the reversal of the Bullish Trend.
5. Morning Star pattern shows the rising
prices strongly in Dabur but not that
strongly in ABFRL.
6. Evening Star Pattern showed falling prices
in both stocks but for a very short span,
thus not very reliable in these two cases.
7. Three White soldier pattern shows
strongly rising pricesfor ABFRL but not so
much for Dabur
8. Three Black Crows shows falling prices in
both the stocks but more clear picture is
not available for ABFRL as the pattern is
currently being formed and its outcome
will be visible in a few days.

Group 1 - TA Assignment

Uploaded by

Copyright:

Available Formats

Group 1 - TA Assignment

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Group 1 - TA Assignment

Uploaded by

Copyright:

Available Formats

Technical Analysis

Two & Three Candlestick Charts

A bullish harami is a candlestick chart indicator used for spotting reversals in a

A bearish harami is a candlestick chart indicator for reversal in a bull price

An evening star is a candlestick pattern used by technical analysts to predict

2. Three Black Crows

A bullish harami is a candlestick chart indicator used for spotting reversals in a

A bearish harami is a candlestick chart indicator for reversal in a bull price

An evening star is a candlestick pattern used by technical analysts to predict

You might also like