NIFTY on Daily Chart trend reversal doji candle seen at todays closing.. Trend reversal doji heikin ashi candle ..found when trend set either bullish or bearish ..and traders indecisive about current trend. last few days nifty corrected around 1000-1200 points from high 18400 now at 17100 bottom was made around 16800 that trend was confirm bearish but last 1-2 session traders are indecisive about trend so volatility seen. that is doji candle formation at support level before trend reversal which is seen in form of heikin ashi doji candle formation on daily chart at todays closing.
this doji candle suggest trend reversal from bearish to bullish ahead may be budget rally is ahead in few days. wave pattern also indicate same.
NIFTY FROM CURRENT LEVEL 17100 uptrend can see target 18400 short term (1 month).
*** THIS IDEA FOR EDUCATIONAL PURPOSE .!
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How we identify trend reversal confirm ? ANS : now we identify doji heikin ashi trend reversal candle form ..after that candle we need 1 candle which confirm trend reversal to bullish .. that candle will be doji again but that doji will be closing should be above previous doji closing .. this will be confirmation candle of trend reversal.
if second doji not form then green candle either small baby or big green canadle with no pin bar downside this candle sure confirm trend reversal .
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using VWAP we clearly identify this trend reversal ..now if we plot vwap on this chart you will see all red candle bellow vwap and next green candle will be above vwap to assure trend reversal .
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Advantage of Using heikin ashi candle is we can read whats going on traders mind , we can read traders psychology very well ..and we can plan our trade setup accordingly. !!
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31 jan candle : open gap up 80-100 points, low of candle around 17000 and high of candle above previous doji means closing above 17120-17150 .
this candle will be confirmation of new rally towards upside !
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31 jan --INTRADAY SUPPORT 17150-7100-17000 INTRADAY RESISTANCE 17250-17350
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BULLISH TREND REVERSAL confirm GREEN CANDLE FORMING ON DAILY CHART TODAY. !!