Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Is the Formation of Doji in Nifty is a Bullish Reversal?

30 sec read


 

 
NIfty CMP : 4606.6
 
If you clearly notices todays closing in nifty then you could spot the formation of a long legged
doji on close. Generally Doji indicates a reversal or an indecesiveness signal and also the formation of doji near lower
band of the bollinger band is a bullish one too. Two case of doji Bullish trend reversal
would be possible if this doji is to be a bullish one.

1) Bullish Abandoned Baby – http://www.fxwords.com/b/bullish-abandoned-baby-candlestick.html

2) Bullish Morning Start – http://www.fxwords.com/b/bullish-morning-doji-star-candlestick.html

 
If this to be  a bullish doji then tommorow's close should be exactly above half of yesterdays candle's Body i.e  ( 3817 – 3602 )/2 = 215/2 = +107.5 Pts

Simply Tomorows Close should be above +107.5 pts So resistance exactly near
3606.6+107.5 = 3714.1

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty and BankNifty 90 min charts update for 16th…

Nifty turns to sell mode on 90 min charts with trailing resistance coming near to the 5500. Similarly Bank Nifty too in sell mode...
Rajandran R
10 sec read

Nifty and BankNifty 90 min charts update for 15th…

Nifty turns to buy mode with cloud supports coming near to 5460-5470 zone. And Bank Nifty still in sell mode with resistance near 10900....
Rajandran R
8 sec read

Nifty Week End Review

Nifty week end review on daily and 90 min timeframe and Nifty Option Details
Rajandran R
32 sec read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More