Updated for 22.06.2016 

Many successful traders may say they never predict, when what they may really mean is that they never EXPECT their prediction to come true. Thus they may say things like “I only react” when more accurately they are reacting… to a failed prediction. For, it is virtually impossible to trade without predicting. So, I say to all you new traders out there “Don’t be afraid to predict. Just know how likely it is that you’ll be wrong, and know what to do when your prediction fails!”

Traders turned cautious on Dalal Street on Tuesday as the index oscillated in a narrow 30-point range, forming a 'Small Bearish' candle or a small black candle on the daily candlestick charts.

The market remained tepid ahead of the Brexit vote, which is now only two days away. The only good news for traders was the fact that the Nifty50 closed above its crucial support level at 8,200.

A 'Small Bearish' candle is formed when the index trades lower, but within a  

 defined range, throughout the session. The length of the candle signifies the range for the day.

In general, the longer the candle, the more intense is the buying or selling activity. If the candles are short, just as the one we observed on the charts on Tuesday, it can be concluded that the trading action was subdued.

A short bearish candle is a neutral chart pattern. Analysts said traders should not take any decision based on the candlestick pattern formed on Tuesday  ..

 

	BUY	SELL	STOP
REC	167.5	170.8	166.25
RCOM	48.1	49.3	47.8
ADANI		206
LUPIN		1470
RELIANCE	981.5	995	976
TATA ELEXI		1819
ONGC		215.6	213.9
CEAT
JET AIRWAYS	565	588
TECH MAHINDRA	529	536	527
INFY		1235

strictly for enternal