■

Technical Analysis
Complete Beginner's Tutorial

For Groww & Zerodha Traders

■ Topics Covered ■ Skill Level ■ Estimated Time

Candlesticks, S&R, Beginner to 4–6 Weeks

Indicators, Patterns Intermediate Self-Paced

■■ DISCLAIMER: This tutorial is for educational purposes only. Trading involves risk. Always do your own research before investing real money.

Technical Analysis Tutorial • For Educational Purposes Only Page 1

 Table of Contents

Stage 1 Candlestick Charts 3

Stage 2 Support & Resistance 5

Stage 3 Technical Indicators 7

Stage 4 Chart Patterns 9

Stage 5 Trading Strategy 11

Bonus Platform Guide: Zerodha & Groww 13

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 1 Candlestick Charts — Reading Price Action

Candlestick charts are the language of the market. Every candle tells a story about the battle between buyers
(bulls) and sellers (bears) during a specific time period. Japanese traders developed this method in the 1700s,
and it remains the most popular chart type used by professional traders today.

Anatomy of a Candle
4 Key Components:
BULLISH BEARISH

HIGH HIGH
■ Open: Price at start
OPEN CLOSE

■ Close: Price at end

CLOSE OPEN

■ High: Highest point

■ Low: Lowest point

■ Body: Open to Close

LOW LOW

■ Wick/Shadow: High/Low

Live Candlestick Example

■ Bullish ■ Bearish

Sample Candlestick Chart

Key Candlestick Patterns

Pattern Shape Signal What It Means

Doji ■|■ Reversal Buyers & sellers equal — indecision

■
Hammer | Bullish Strong buying at bottom — potential uptrend

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 |
Shooting Star ■ Bearish Selling pressure at top — potential downtrend

Bullish Engulfing ■ (green) Bullish Big green candle covers previous red

Bearish Engulfing ■ (red) Bearish Big red candle covers previous green

Morning Star 3 candles Bullish 3-candle reversal pattern at bottom

■ Pro Tip: Look for candlestick patterns at key Support and Resistance levels for higher probability trades.

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 2 Support & Resistance — The Foundation of TA

Support and Resistance (S&R) are the most important concepts in technical analysis. These are price levels
where the market has repeatedly reversed, showing that buyers or sellers are active at those prices.

SUPPORT RESISTANCE

A price floor where buying demand is strong A price ceiling where selling pressure is strong
enough to prevent further price decline. Price enough to prevent further price rise. Price is
'bounces' off this level repeatedly. 'rejected' at this level.

■ Acts as a price floor ■ Acts as a price ceiling

■ Buyers are active here ■ Sellers are active here

■ Price bounces upward ■ Price falls back down

■ Break below = bearish signal ■ Break above = bullish signal

RESISTANCE

SUPPORT

Role Reversal — Key Concept

When Support is broken, it BECOMES Resistance (and vice versa). This is one of the most powerful concepts in
technical analysis:

Scenario What Happens Trading Implication

Support broken downward Support becomes Resistance Sell rallies back to old support

Resistance broken upward Resistance becomes Support Buy pullbacks to old resistance

Price near strong S&R High probability reversal zone Look for entry signals here

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 3 Technical Indicators — Confirming Your Analysis

Indicators are mathematical calculations based on price and/or volume. They help confirm trends, identify
momentum, and spot potential reversals. Important: Never use indicators alone — always combine with S&R
and candlestick patterns for confirmation.

Moving Average■(MA / EMA) RSI■(Relative Strength Index)

Trend Direction Overbought / Oversold
TREND MOMENTUM

20 MA, 50 MA, 200 MA are key levels Above 70 = Overbought | Below 30 = Oversold

MACD Volume
Trend Changes & Momentum Strength of Price Move
MOMENTUM VOLUME

Signal line crossover = potential buy/sell High volume confirms breakouts; low volume = weak move

Bollinger Bands VWAP

Volatility & Price Range Intraday Fair Value
VOLATILITY INTRADAY

Price near upper band = overbought; lower band = oversold Used by institutions; price above VWAP = bullish bias

Moving Average Strategy — Simple Example

Strategy Signal Action

Price crosses ABOVE 20 MA Bullish Consider Buy Entry

Price crosses BELOW 20 MA Bearish Consider Sell / Exit

50 MA above 200 MA (Golden Cross) Strong Bullish Strong uptrend confirmed

50 MA below 200 MA (Death Cross) Strong Bearish Strong downtrend confirmed

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 4 Chart Patterns — Predicting Future Price Moves

Chart patterns are formations created by price movement on a chart. They appear repeatedly across markets
and timeframes, and have statistically significant outcomes when identified correctly. Always wait for pattern
'confirmation' before entering a trade.

Reversal Patterns
Pattern Where It Forms Signal Target

Head & Shoulders After uptrend Bearish Reversal Distance from head to neckline, projected downward

Inverse H&S After downtrend Bullish Reversal Distance from head to neckline, projected upward

Double Top (M) After uptrend Bearish Reversal Height of the pattern, projected downward

Double Bottom (W) After downtrend Bullish Reversal Height of the pattern, projected upward

Triple Top After uptrend Strong Bearish Very strong reversal signal

Triple Bottom After downtrend Strong Bullish Very strong reversal signal

Continuation Patterns
Pattern Shape Signal Meaning

Bull Flag Pole + small pullback Bullish Continue Consolidation before next leg up

Bear Flag Drop + small rally Bearish Continue Consolidation before next leg down

Ascending Triangle Flat top + rising low Bullish Breakout Buyers getting more aggressive

Descending Triangle Rising top + flat low Bearish Breakdown Sellers getting more aggressive

Symmetrical Triangle Converging trendlines Breakout either way Wait for breakout direction

Cup & Handle Rounded bottom + dip Strong Bullish William O'Neil pattern — very reliable

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 5 Building Your Trading Strategy

Having knowledge of TA is only half the battle. You need a structured trading plan that combines everything
you've learned into a repeatable, rule-based system. Successful traders follow their plan strictly.

The 5-Step Trade Setup

Identify the Trend
1 Is price making higher highs/lows (uptrend) or lower highs/lows (downtrend)?

Find Key S&R Levels

2 Mark horizontal support and resistance zones on the chart

Wait for a Pattern/Signal

3 Candlestick pattern or indicator signal at the S&R level

Set Entry, Stop-Loss & Target

4 Risk:Reward must be at least 1:2 (risk ■1 to make ■2)

Manage the Trade

5 Trail stop-loss as price moves in your favor. Stick to your plan!

Risk Management Rules — NON-NEGOTIABLE

Rule Guideline Why It Matters

Position Size Never risk more than 1-2% per trade Protects capital over the long run

Stop-Loss Always set BEFORE entering Limits losses if you're wrong

Risk:Reward Minimum 1:2 ratio You can be wrong 50% and still profit

Daily Loss Limit Stop trading after 3% account loss Prevents emotional revenge trading

Diversification Don't put all capital in 1 stock Reduces concentration risk

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 6 Platform Guide — Zerodha Kite & Groww

Both Zerodha and Groww are excellent platforms for Indian traders. Here's how to apply your technical analysis
knowledge on each platform.

Zerodha Kite — Features for TA

Feature Where to Find How to Use for TA

Candlestick Chart Chart View → Chart Type Switch to candlestick from top menu

Drawing Tools Left toolbar on chart Draw S&R lines, trendlines, Fibonacci

Indicators Studies button on chart Add MA, RSI, MACD, Bollinger Bands

Timeframes Top of chart Use 1D for swing, 15min for intraday

GTT Orders Order Window → GTT Set conditional buy/sell at S&R levels

Basket Orders Orders → Basket Execute multiple trades at once

Kite Connect API [Link] For algorithmic/automated trading

Groww — Features for TA

Feature Where to Find How to Use for TA

Stock Charts Stock Page → Chart tab Basic candlestick with timeframes

Technical Indicators Chart → Indicators RSI, MACD, Moving Averages

Price Alerts Stock Page → Set Alert Set alert at S&R levels

SIP (for investing) Mutual Funds section Long-term wealth building

Portfolio Tracker Portfolio tab Monitor your positions

Recommended Learning Resources

Resource Platform Cost Best For

Zerodha Varsity [Link] FREE Best TA course for Indian traders

TradingView [Link] Free/Paid Best charting platform for practice

Investopedia [Link] FREE Concept definitions & explanations

NSE India [Link] FREE Indian market data & announcements

Technical Analysis Tutorial • For Educational Purposes Only Page 9

 [Link] [Link] Free/Paid Fundamental + Technical stock screener

■ Your 6-Week Learning Plan:

Week 1-2: Master candlesticks & S/R on TradingView (paper trade only)
Week 3-4: Add indicators (RSI + MA). Study 20 charts per day
Week 5-6: Identify chart patterns. Write down every trade setup

Start with ■0 risk. Use paper trading until you're consistently profitable!

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