• Rajeev Kumar Sinha

Candlesticks are one of the most effective technical analysis tools available to traders. Candlestick charting dates back hundreds of years to Japan. It's a different way of looking at data than what's been established in Western societies. Candlestick charting has the benefit of allowing you to utilize the same methods and analysis as bar charts while also providing the variety and distinctive indications that candlesticks provide. The purpose of this investigation into the creation of candlestick patterns was to determine the many candlestick patterns and their accuracy. It will assist investors in determining if candlestick patterns are reliable while making trading decisions. This research is based on the Nifty index for the last five years. According to the past five years of the Nifty index, candlestick patterns are not 100 percent accurate. And technical indicators aren't particularly supportive of these trends. We may infer from this research that investors should examine other variables in addition to candlestick patterns. It aids in the improvement of precision. The use of open, high, low, and close prices to depict historical price movement of a particular underlying such as a stock, index, or commodity is known as Japanese Candlesticks. These candlesticks form patterns that are thought to predict future price movement. Despite the fact that the popularity of candles has grown significantly over the past decade, there is still no statistical proof that they are useful in a wide variety of situations. Using almost six decades of historical data from the Sample 500 index, we investigate the forecasting potential of the Shooting Star and Hammer patterns. In our research, we discovered that utilizing closing prices provided minimal predicting reliability, but that using a high price for the Shooting Star and a low price for the Hammer provided excellent forecasting reliability.

Technical Analysis, Technical Indicators, Candlestick Patterns, Bullish Patterns, Bearish Patterns.

"A Review on Trading and Exports of Candlesticks", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.448-451, April-2019, Available :http://www.jetir.org/papers/JETIRFT06085.pdf

"A Review on Trading and Exports of Candlesticks", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp448-451, April-2019, Available at : http://www.jetir.org/papers/JETIRFT06085.pdf