NeeteshJain
Short

Nifty Forming Gravestone Doji - Indicating Change In Trend

NSE:NIFTY   NIFTY 50
On weekly Chart, it is been observed that there is a formation of Gravestone Doji candlestick that indicates bearishness. It forms in uptrend market to suggest change in trend. As showed in the chart, Nifty             is been trending up forming new upside breakouts and waves for a while, it is been now observed with a Gravestone Doji , that indicates change in trend or "Party over for bulls" for a short time.

Gravestone Doji :
1. Formed when opening and closing price are almost equal.
2. Long upper shadow suggests that buying pressure was countered by high selling pressure, rejecting higher prices
3. This candles indicates turning point of a trend, known as bearish reversal candlestick

In all, bulls pressure to take prices up has been completely rejected by sellers waited at resistance, indicating change in trend.
Note: In case, if you would like to sign up for a one week free trial of my Equity FNO services then you may connect with me at neeteshjain01@gmail.com Regards
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out