Why candlestick analysis fails in stock market ?

When candlestick pattern analysis fails in the stock market?

Reasons:

1. Candlestick patterns analysis required a lot of patience sometimes you need to wait for 1 month to complete the pattern of the candlestick.
2. Due to a lack of patience, we enter into the trade early. 80-90 % of retail investors don't have the patience to complete the pattern.
3. Analysis like Fibonacci Retracement, long term support and resistance required a lot of patience we need to wait to complete these setups to complete.
4. In candlestick analysis, the size of the candle is relative to each other.
5. We are not able to decide stop loss after candlestick analysis 
6. Due to the habit of trading, we select stock very frequently
7. After scanning all stock we will find only one or two stock suitable for final trading.
8. If we find the stock after scanning we need to find the correlation between the stock and the nifty 50.
9. If the stock have a strong correlation with nifty 50 and the market in bearish phase don't trade that stock.
10. Analyze the option chain to identify the short term movement of the stock.
11. Check the reliability of the pattern
12. Do your analysis plan the trade and then trade the plan 

How to calculate implied volatility for nifty options?

Learn the basics of implied volatility?

Option chain implied volatility and options greeks calculation excel sheet download