Nifty Forming Gravestone Doji - Indicating Change In Trend

NSE:NIFTY   Nifty 50 Index
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.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out