Recognition Criteria:

1. Market is characterized by uptrend.
2. We see a long white candlestick in the first day.
3. We then see an upward gap and a black candlestick on the second day.
4. We see a sequence of small real bodies constituting a brief downtrend however staying within the range of the first day on the second, third, and fourth days.
5. Finally we see a white candlestick, which opens with a gap and closes with a new high on the fifth day.

Explanation:

The pattern appears during an uptrend, which is further confirmed by the first long white candlestick. Prices open with a gap next day and they trade within a narrow range closing at a slightly lower level. This may be a lower close but it is still a new closing high along the uptrend. This however suggested that the bulls now prefer to rest while the bears are encouraged. The next couple of days start causing some concern about the ability of the upward move to sustain itself since these days open at the level where the market closed on the previous day and they close at slightly lower levels. In any case, the markets are still higher than the opening price of the first day even on the third day, and remember that the first day was a long white candlestick day. This observation shows that there was an attempt for reversal but it failed. Prices rise again to close at a new closing high apparently showing that the events of past few days were only a pause in a strong upward trend. It appears that attempts to reverse the trend occurred, but failed. The upward trend should continue.

Important Factors:

The Bullish Mat Hold Pattern is similar to the Bullish Rising Three Methods Pattern. The difference is that the reaction days, two, three, and four are altogether higher than those in the Bullish Rising Three Methods Pattern.

The reliability of this pattern is very high, but still a confirmation in the form of a white candlestick with a higher close or a gap-up is suggested.

Identifying Bullish side by side white lines Candle stick pattern Criteria:

The real body of the Long White Candlestick has a relatively longer length relative to other candlesticks on the chart. The sizes of the upper and lower shadows are not important.

Explanation for Bullish side by side White Lines CandleStick pattern :

Long White Candlesticks show strong buying pressure. A longer white candlestick is indicative of the fact that the closing price is further above the opening price. The Long White Candlestick shows that the prices advanced significantly from open to close during the day under strong buying pressure and buyers were aggressive. The Long White Candlestick is generally a bullish
pattern, however its position within the broader technical picture is also important. For example; Long White Candlesticks may show a potential turning point or they may show that prices have reached to a support level if they are seen after an extended decline. If a Long White Candlestick is seen after a long and significant rally, it can point out to excessive bullishness in the market that says that prices are at dangerously high levels.

Important Factors:

The two side-by-side white candlesticks that we see after the upward gap are not only of similar size, but also their opening prices should be almost the same.The reliability of this pattern is very high, but still a confirmation in the form of a white candlestick with a higher close or a gap-up is suggested.

Side by Side White Lines

Bullish Mat Hold

MEDIUM RELIABILITY

LOW RELIABILITY

MEDIUM RELIABILITY

LOW RELIABILITY

Candlestick charts display the open, high, low, and closing prices in a
format similar to a modern-day bar-chart, but in a manner that extenuates the
relationship between the opening and closing prices. Candlestick charts are
simply a new way of looking at prices, they don’t involve any calculations.

Each candlestick represents one period (e.g., day) of data. The figure below
displays the elements of a candlestick:

The interpretation of candlestick charts is based primarily on patterns. The
most popular patterns are thoroughly explained in this website. The patterns are
examined in three main groups as “Bullish”, “Bearish”, and “Neutral”. These
groups are further subdivided with respect to the type of the patterns as
“Reversal”, “Continuation”, and with respect to their reliability as “High
Reliability”, “Medium Reliability” and “Low Reliability”.

Candlestick charts are flexible, because candlestick charts can be used alone
or in combination with other technical analysis techniques. A significant
advantage attributed to candlestick charting techniques is that these techniques
can be used in addition to, not instead of, other technical tools. In fact this
system is superior to other technical tools. Candlestick charting techniques
provide an extra dimension of analysis. As with all charting methods,
candlestick chart patterns are subject to interpretation by the user. As you
gain experience in candlestick techniques, you will discover which candlestick
combinations work best in your market.

Question posted by one of our visitor regarding Vijaya Bank share future.  I have explained clearly below

Vijaya Bank is in down trend and not suggestible to enter into this stock at the moment.  I would see there is a support at Rs.56/- In case if it skips, vijaya bank price would go to Rs. 46/- and if it skips below Rs.43/ it would go to Rs. 38.

My view on this stock is not to enter at this moment. I am bearish on this stock and may move further down. It may be around Rs.56/- for some more time.

Vijaya Bank Technical Analysis

Question posted by one of our visitor regarding Indosolar share future.  I have explained clearly below

Looking at chart below, indosolar share has been in downtrend from past 1 year. I do not suggest to enter into this stock at the moment. There is no support left for this stock to predict the reversal as it has been setting the lowest price every time. It is advisable to stay away from this stock.

Markettrend.co.in Technical Analysis on Indosolar

Daily Chart

Based on the Bank Nifty(All bank shares summary) Daily chart, It shows the sign of the reversal and may become bullish due to the peircing pattern. But the dojo has formed after the peircing pattern. Peircing pattern is the one which is in red circle. Dojo is the one which is in Green circle. But this may lead to minor uptrend. Price may go up slightly but will come down as weekly and monthly charts still shows the bearish signals. At the moment it is better to wait and watch rather than entering into the stock.

Weekly Chart

Weekly chart of bank nifty shares has slipped lower bollinger band. It shows the bearish signal. But a black candle and white candle may lead to price hike. It may be a minor uptrend. Do not get deceived by this signal. Even this chart signifies to wait and watch for the opportunity.

Monthly Chart

Monthly chart clearly shows that, it is in downtrend and on its way to reach to lower bollinger band. For the period of 1 to 2 months, it is not good to invest in bank shares. It is suggestible to wait until November to invest in Bank shares.

Based on current Market Conditions, it is advisable not to invest in bank shares for at least next 1 to 2 months.

Target Price:  118

Stop Loss:  101

As per the chart below, Dabur india is in uptrend at the moment. It would reach to 118 in less than 2 weeks of time. The reason why we are specifying target as 118 is, it has crossed the bolinger band. Bollinger band is the one which is in yellow color on both sides of the candles. Now in the chart, you can clearly see that, it has crossed the upper bollinger band (Yellow colour) and immediate target would be Rs.118.  Have fun.