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Indian stock market · candlestick pattern

Shooting star on Shriram Finance

On Shriram Finance the shooting star showed up 25 times. The target came first 28% of the time, the stop 68%, and 4% went nowhere within 12 candles.

Counted on Shriram Finance: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily1233%67%0%
Hourly1323%69%8%

Shriram Finance against the rest

ChartsFoundTarget firstStop firstWent nowhere
Shriram Finance2528%68%4%
All Indian stock market charts1,26538%56%6%
Every market10,01336%57%7%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the shooting star is

After a rise, buyers pushed up and sellers slammed it back down.

A firework shoots high into the sky, sparkles, and then falls back down. A shooting star candle is like that: after a rise, price shot up during the candle, then sellers pushed it back down near where it started. The long top wick is the trail it left behind.

The full shooting star lesson, video and quiz ›

Other patterns on Shriram Finance

Inside bar · Stochastic bearish cross · Stochastic bullish cross · Spinning top · Doji · Volume profile rejection · MACD bearish cross · Volume profile bounce · EMA 9/21 bearish cross · EMA 9/21 bullish cross · all of them

The shooting star elsewhere

Bharti Airtel · Infosys · Mahindra & Mahindra · Hindalco · Vedanta · Tata Steel · Bajaj Finserv · Tech Mahindra · Kotak Mahindra Bank · HDFC Bank · Dow Jones · Sony · GBP/USD · EUR/JPY · Silver · Ethereum · Bitcoin

Questions

How often does the shooting star work on Shriram Finance?

In 25 cases on Shriram Finance, the target (1.5 × ATR) came before the stop (1 × ATR) 28% of the time and the stop came first 68%; 4% went nowhere within 12 candles.

What is the shooting star?

After a rise, buyers pushed up and sellers slammed it back down.