Shooting Star
A candlestick with a small body near the bottom of its range and a long upper wick, appearing after an advance.
How it is identified
Test: Upper Wick is at least twice the Body, Lower Wick is minimal, and the candle follows an advance
Unit
qualitative
In depth
The candle records that price rose well above the close during the period and gave the gain back, which practitioners read as supply appearing at higher levels. Like the hammer and hanging man, its inverted twin — the inverted hammer — has the same shape in a different context and the opposite reading. In Indian markets a long upper wick frequently reflects an intraday spike into resting sell orders rather than any change in view. Described as a shape; no prediction is offered.
Worked example
Open ₹528, high ₹552, low ₹526, close ₹530. The body is ₹2, the upper wick 552 - 530 = ₹22, eleven times the body. The ₹22 was reached and not held; nothing follows from that alone.
Illustrative figures, chosen so the arithmetic is easy to follow. Not a live price and not a valuation of any company.
Educational reference only
This entry explains what “Shooting Star” means. It is not investment advice and not a recommendation to buy or sell any security. Any numbers above are illustrative, not live prices, and nothing here predicts price direction or rates a stock. Consider your own circumstances and consult a SEBI-registered investment adviser before acting.