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Nikita (SEBI RA)

5th Sep · SEBI-Registered Analyst

Shooting Star – Bearish Signal at Market Top

📊 The Shooting Star is a strong single-candle bearish pattern. ✅ Formation: Small body near low. Long upper shadow (at least 2× body). Appears after an uptrend. ✅ Meaning: Buyers pushed price up, but sellers regained control → rejection of higher levels. 📌 Example: Nifty rallies to 22,200, makes intraday high 22,400 but closes 22,180 → shooting star → selling pressure active. 🧠 Rule: Stronger when supported by resistance zone & volume.

MARUTI

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