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Technical Analysis

Shooting Star

Definition

A bearish reversal candlestick with a small body and long upper shadow.

Understanding Shooting Star

Shooting Star is an important concept in stock market trading. Understanding this term will help you make better trading decisions and communicate effectively with other traders and financial professionals.

Key Points

  • Basic Definition: A bearish reversal candlestick with a small body and long upper shadow.
  • Category: This term is commonly used in Technical Analysis
  • Relevance: Essential knowledge for traders operating in Indian stock markets

Practical Example

When trading on NSE or BSE, you'll encounter shooting star regularly. For example, understanding this concept helps you analyze market conditions, make informed decisions, and manage your trading positions effectively.

Related Concepts

To fully understand shooting star, you should also be familiar with related trading concepts. Check out the related terms in the sidebar for a comprehensive understanding of this topic.

Related Terms

  • CandlestickA chart type showing open, high, low, and close prices for a period.
  • DojiA candlestick pattern where open and close prices are nearly equal, signaling indecision.
  • HammerA bullish reversal candlestick with a small body and long lower shadow.
  • Engulfing PatternA two-candle reversal pattern where the second candle completely engulfs the first.
  • Support LevelA price level where buying interest is strong enough to prevent further decline.
  • Resistance LevelA price level where selling pressure is strong enough to prevent further rise.

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