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Nifty formed Dragonfly Doji on daily chart with long lower and long upper shadows, which indicates thug of war between buyers and sellers which shows indecisiveness among them.
Candle is formed exactly on 9 days Exponential Moving Average line.
Further levels for nifty will be 22272 level will work as support and...
Dragonfly Doji
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A Dragonfly Doji is a type of candlestick pattern that can signal a potential reversal in price to the downside or upside, depending on past price action.
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SUPPORT + DOJI
if the confirmation candle is done then bullish .
Disclosure : I am not SEBI registered. The information provided here is for Education Purposes only. Consult your financial advisor before taking any decisions
Stock is heavily accumulated @ lower levels by big player and done breakout with strong momentum and now retest done with low volume ready for big upside
This is weekly chart of ashok leyland CMP 121.70, If you see last weeks candel, a dragonfly doji candelstick was form, it indicate a reversal of a downtrend price and start of an uptrend, wait for this week candelstick formation as a confirmation of bullish trend, if 132.30 resistance level is broken in few weeks then stock can give good rally, This is for a short term.
Two days back b.nifty forms a dragonfly doji candle on daily timeframe, followed by a gap up on the next day, now a small pullback towards the trend line.
These indicates some sign of trend reversal going to happen soon.
Today FED meeting going to happen, that reaction will reflect on our market tomorrow weekly expiry, so trade carefully.
Price movement in February has led to formation of dragonfly doji. It has appeared sideways. Technical indicators such as RSI suggests continuation of bullish uptrend. One can get into a short term trade for moderate gains. However, it is recommended to take a long-term view only after dragonfly doji transforms into a directional candlestick - either bearish and bullish.
![HDFC: HDFC [Dragonfly Doji ]](https://s3.tradingview.com/u/uPyat8wU_mid.png "HDFC [Dragonfly Doji ]")
