Hi, Just for knowledge purpose I wanted to know since it was a doji candle where seller pulled it down wasnt the stock suppose to go down instead it went up. any idea why?
tradingschooll
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@harishtv18, yes it has the most bearish pressure at this momentum but with volume as its previous momentum it can be short covering and it's more like that institute players make a weak hand get out of the trade as they are psychologically weak and will square off their position.
Candles are important but most important is their position and ask yourself why this is happening here.
make the position as and when you have clear direction and bias. and if u check it now it's moved and given upside momentum. now you can relate this
keep hustling.
harishtv18
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Thanks, @tradingschooll, I am new at this, so what I can make from your reply is that it was more of a play (artificially managed) from the market players than a natural move, and as on current date, the stock is moving naturally.
tradingschooll
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@harishtv18, no you can interpret it as like play .. it can be interpreted as human behavior. the stock market is all about probability nothing is sure or textual here.
it was just a rest mode / little break / short covering. the market never travels in a single upside or downside movement.