Gravestone Doji in BANKNIFTY
The major index of Indian stock market has formed a bearish reversal candle stick in its weekly chart.
According to investopedia a gravestone doji is a bearish reversal candlestick pattern that is formed when the open, low, and closing prices are all near each other with a long upper shadow. The long upper shadow suggests that the bullish advance at the beginning of the session was overcome by bears by the end of the session. This often comes just before a longer-term bearish downtrend.
Entry: 44800 (Only if sustaining below it for an hour)
Stoploss: 44950
Target 1: 44500
Target 2: 43800
Target 3: 43350
Ultimate target: 41600 - 41900
According to investopedia a gravestone doji is a bearish reversal candlestick pattern that is formed when the open, low, and closing prices are all near each other with a long upper shadow. The long upper shadow suggests that the bullish advance at the beginning of the session was overcome by bears by the end of the session. This often comes just before a longer-term bearish downtrend.
Entry: 44800 (Only if sustaining below it for an hour)
Stoploss: 44950
Target 1: 44500
Target 2: 43800
Target 3: 43350
Ultimate target: 41600 - 41900
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