Doji Formation (Indecision Candles) is the New TrendFor the past four weeks (3rd week of June to 2nd week of July), Nifty 50 NSE:NIFTY has shown extreme range-bound volatility. The volatility imprinted each week has built a culture of forming "Doji (s)" or indecision candles. In one instance, there is also evidence of a green spinning top. Even the green spinning top is considered an indecision candle. Thus, for the past four weeks, traders have been through a roller-coaster ride.
The article aims to understand the present culture of how the Nifty 50 Index is being traded. Specifically, it highlights the way doji candles are omnipresent in the existing market conditions. Lastly, it is evident that positional trading is not viable in the present market conditions, but opting for pure intraday trading is less risky.
What is Doji?
Doji is a Japanese term that means ‘Indecisiveness’ or ‘the same thing.’ The single candlestick pattern ‘Doji’ is defined as the price behavior for a particular session where the closing price has been the same as or near the opening price. Additionally, Doji shows evidence of large wicks (or candle shadows). It means that the price has shown large fluctuations during the trading session, but ultimately it closed near or at the same zone as the opening price. In the case of Doji, there is hardly any evidence of the body. Also, the presence of longer shadows confuses traders. Thus, the pattern is infamously identified as an indecisive session.
Formation of Long-Legged Doji
It is observed that Nifty 50 has consistently formed long-legged doji for the consecutive four weeks (except one green spinning top, which can also be considered as an indecisive session). Long-Legged Doji is also considered the perfect indecisive candlestick pattern. The open and close prices are equal. Also, the body stays perfectly in the middle of the upper and lower shadows. In a Gravestone Doji, though the session is indecisive, sellers still dominate. In the case of a Long-Legged Doji, both bulls and bears fail.
Impact of Consecutive Doji formation on Nifty 50 Trading
In the weekly sessions, holding on to directional trading has been extremely difficult. From a trader's perspective, any traders who have held their directional position speculating the continuation of the trend (either bullish or bearish) have been brutally punished by the market. The moment traders have speculated a continuation of the trend is the moment the market has changed its direction. The extreme range-bound volatility has been beneficial only for the intraday trend traders and the non-directional traders.
Is Doji a continuation pattern or a trend reversal pattern?
It is observed that after the completion of the indecisive session, most of the traders lose capital or end up at break-even. Furthermore, it directs the traders to speculate on the next trading session. The biggest disadvantage of working in a Doji session is that it shows the possibility of both trend continuation and trend reversal. But nothing happens. In this case, technical analysis or speculation does not work. Here comes the significance of philosophy. Traders need to nurture the philosophy that the future is unknown. A Doji session even escalates the uncertainty of future prices. It is unfortunate but true that technical analysis fails here. A short philosophy for traders to mitigate future price speculation after a Doji session is as follows:
“Be comfortable not knowing”
What's Next in the Nifty 50 Price Action?
Even if the weekly sessions have been extremely volatile and range-bound, there is hope. For the past four weeks, it can be observed that the price is slowly forming a high-highs and lower-lows structure. At least, the closing of each week is above the closing of the previous week. Also, Nifty 50 has formed a strong support zone or neckline at (23900 - 23700). Price sustaining above the zone of (23900 - 23700) could be considered bullish. Also, we have to keep an eye on the closing of the upcoming weeks. If the closings are above the previous week's closing, then it could be a relief for the bulls.
Disclaimer:
(i) The post is purely based on technical and chart analysis. The author has not studied the fundamentals. Thus, any fundamental or macroeconomic event can disrupt chart analysis.
(ii) The author has no intention to promote buy or sell recommendations.
(iii) The post is only for educational purposes.
(iv) Novice traders should stick to the cash segment for swing trading instead of F&O. This post has no intention to promote F&O trading.
(vi) Please be mindful during trading and investment decisions. Be Responsible.
Happy Trading! Early Signs of Bullish ExhaustionProbable Price Structure Analysis of KOSPI TVC:KOSPI
🟢 Bullish Scenario
There is no setup for a confident bullish move. It seems like a bullish exhaustion phase in the index. For a bullish scenario, the price needs to give a proper breakout above the strong resistance zone (SRZ): (8500 - 8250). If the price sustains above SRZ, then weak bullish moves can be expected till the levels - 8750 and 9000.
🔴 Bearish Scenario
Presently, the price is in an indecision zone. There is a strong support zone (SSZ): (7750 - 7500). If the price decisively breaks down below the SSZ, then the index would enter a proper bearish zone. In that case, bullish sentiment would be totally exhausted. The level of 7500 is the neckline of the probable head-and-shoulder (H&S) pattern. The probable bearish targets below the level of 7500 would be - 7250 and 7000.
⏺ Range of Consolidation (ROC): (8500 - 7500)
Here, the level of 8000 is the median of the ROC. The median works like a sentiment. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment.
● Disclaimer + End Note
➤ All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
➤ Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
➤ Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
➤ Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
➤ Be Strategic. Be Courageous. Be Patient. Be Wise.
➤ Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
➤ Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading! 
Short
Nifty Bank Analysis [For 29.06.2026: Monday]Probable Scenario Analysis of Nifty Bank for the 29th of June, 2026. The day is Monday.
🟢 Bullish Scenario
There is no observable bullish setup. The bulls are trapped just above the level of 58500. We have to wait for the price to offer a bullish setup, as in the present scenario, bulls are bleeding, and the bears are in power. However, if the price sustains above the level of 58500 for at least 30 minutes, then we can expect a weak bullish move till the level of 58750. Next, if the price starts to trade above 58750, then there will be a weak bullish move till the level of 59000. The price will experience strong resistance at the level of 59000. Lastly, if the price sustains above the level of 59000, then the probable strong bullish targets would be - 59250 and 59500..
🔴 Bearish Scenario
Level 58000 is a strong support. If the price decisively starts to trade below the level of 58000, then we can expect a weak bearish move till the level of 57750. Next, if the price sustains at least 15 minutes below the level of 57750, then there will be a strong sell-off until the level of 57500. The price will receive good support at the level of 57500. Lastly, if the price again breaks down below the level of 57500, then there will be sharp selling in the market. The probable bearish targets below the level of 57500 would be - 57250, 57000, and 56750.
🟡 No Trading Zone (NTZ): (58500 - 58000).
Presently, the price is in the NTZ. Only a breakout or breakdown would confirm the trend.
⏺ Range of Consolidation (ROC): (58500 - 57500).
For the past two weeks, the price has been extremely volatile in a range. Here, the level of 75000 is the median of the ROC. The median works like a sentiment. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment.
● Event
There is no high-impact event in the upcoming week. However, there is the U.S. Independence Day Holiday on Friday (03rd of July). On Tuesday (30th of June), there will be Nifty 50 expiry. Therefore, we can expect a price anomaly till Tuesday.
● Intraday Bias
Establish intraday bias with respect to the opening price. If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Top-Down Analysis
- Monthly TF: A green bullish candle with no sign of weakness. Minor resistance is 58500, and major resistance is 59000. Major support is 57500. The view is bullish.
- Weekly TF: Back-2-back two weeks are long-legged doji. But both the candles are green. Also, there is a higher-highs and lower-lows structure. The view is indecision to bullish.
- Daily TF: A red shooting star candle is formed. Maybe it is a sign of trend reversal. The level of 58500 is a major resistance. The level of 57500 is a major support. There is a higher-highs and lower-lows structure. The view is indecision to bullish.
- 30-minute TF: The higher-highs and lower-lows structure is intact. There is no trend clarity. The view is indecision to bullish.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading! Bull Trap at 77500Probable Scenario Analysis of SENSEX for the 29th of June, 2026. The day is Monday.
🟢 Bullish Scenario
There is no observable bullish setup. It is evident that the bulls are trapped just above the level of 77500. We have to wait for the price to offer a bullish setup, as in the present scenario, bulls are bleeding, and the bears are in power. However, if the price sustains above the level of 77500 for at least 30 minutes, then we can expect a weak bullish move till the level of 77750. Next, if the price starts to trade above 77750, then there will be a weak bullish move till the level of 78000. The price will experience strong resistance at the level of 78000. Lastly, if the price sustains above the level of 78000, then the probable strong bullish targets would be - 78250 and 78500.
🔴 Bearish Scenario
Level 77000 is a strong support. If the price decisively starts to trade below the level of 77000, then we can expect a weak bearish move till the level of 76750. Next, if the price sustains at least 15 minutes below the level of 76750, then there will be a strong sell-off until the level of 76500. The price will receive good support at the level of 76500. Lastly, if the price again breaks down below the level of 76500, then there will be sharp selling in the market. The probable bearish targets below the level of 76500 would be - 76250 and 76000.
🟡 No Trading Zone (NTZ): (77500 - 77000).
Presently, the price is in the NTZ. Only a breakout or breakdown would confirm the trend.
⏺ Range of Consolidation (ROC): (78000 - 76000).
For the past two weeks, the price has been extremely volatile in a 2000-point range. Here, the level of 77000 is the median of the ROC. The median works like a sentiment. The price trading above the median would offer bullish sentiment, while the price trading below the median would trigger bearish sentiment.
● Event
There is no high-impact event in the upcoming week. However, there is the U.S. Independence Day Holiday on Friday (03rd of July). On Tuesday (30th of June), there will be Nifty 50 expiry. Therefore, we can expect a price anomaly till Tuesday.
● Intraday Bias
Establish intraday bias with respect to the opening price. If the price sustains above the opening price, then don't think of shorting. Look for bullish trades only. On the contrary, if the price sustains below the opening price, then don't think of going long. Look for bearish trades in that case.
● Top-Down Analysis:
- Monthly TF: The price has been sideways for the last four months. The level of 78000 is a major resistance. The level of 76500 is a major support. The view is indecision.
- Weekly TF: Back-2-back two weeks are long-legged doji. The view is indecision.
- Daily TF: A red shooting star candle is formed. Maybe it is a sign of trend reversal. The level of 77500 is a major resistance. The level of 76500 is a major support. The view is indecision.
- 30-minute TF: The higher-highs and lower-lows structure is intact. However, the price is badly consolidating in a sinusoidal pattern in the range of (78000 - 76000). There is no trend clarity. The view is indecision.
● Disclaimer + End Note
- All the analyses would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
- Trade only if there is a set-up. Remember, not trading is an extension of the trading activity.
- Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Thus, trade what you see, not what you believe.
- Always PRACTICE RISK MANAGEMENT. Always PROTECT YOUR CAPITAL. Be RESPONSIBLE.
- Be Strategic. Be Courageous. Be Patient. Be Wise.
- Every day is a new day. Thus, do not carry the baggage of past successes or failures. Leave the gardens of winning and losing. Establish yourself in equanimity. Always think from a new perspective.
- Let the joy of trading drive your effectiveness, not greed or fear. Believe in Possibilities.
Happy Trading! 
Education
Long
