The pinbar candlesticks indicates rejection of prices on high levels and also indicates selling pressure at resistance levels. In the above chart, 1380 -1350 acting as resistance zone where we can see rejection of prices due to high selling pressure. The prices may go down to the previous 52 Week high levels to regain buyers in the momentum and also confirmed it...
The Pin Bar Candlesticks formation indicates change in trend. If it is found near important resistance level then it signals selling pressure and rejection of prices on high level as indicated the above chart.
Therefore, it is an important formation to measure market sentiments and as per above chart it indicates high selling pressure or profit taking signals...