Kanti Kaka’s chavi from my eyes :
Palanthi – key no. 14 of Vaida bazar ni Chavi by Kanti Kaka. page no. 310.
After Ganotri key my favorite key is Palanthi.
As per kaka, its a profit booking chavi and also an indication of change in current trend.
In a down trend if Today’s Low = Previous Close & if todays a bull day then Palanthi Chavi applied. & if one is short in particular scrip/market one should book profit.
But, my observation in palanthi chavi is -” Its not only strong reversal but just like Gulant Chavi it moves in opposite direction with double the speed of its previous trend.”
would like to share recent example of IGL.
on 14.9.21 IGL top out at Rs. 602 – from there it went down till 321 on 7.3.22 & formed Gangotri went up till 400 & then remain sideways.
on 8.8.2022 it formed Palanthi – P. close 353.15 , 8.8.2022 low 353.15 & a bull day. (close > open) close is 358.75
today 12.8.22 currently traded at 433. a vertical bull run can be seen in chart.