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Gravestone, Dragonfly: Use Doji Candlestick patterns to maximise profits

Better the confirmation, stronger the view. It is wise to wait for the next session to give an appropriate confirmation. A green close suggests upward rally and a red close indicates weakness.

Topics
technical analysis | Chart Reading | technical charts

Avdhut Bagkar  |  Mumbai 

A Doji candlestick is formed when the open and close prices of a stock or index are nearly the same, which represents indecision among traders. The different forms of a doji candlestick are: long-legged doji, Gravestone doji, and Dragonfly doji. In simple terms, such a candle indicates that the bulls and bears are uncertain about the trend.

The strength and momentum for both seems to be at par, resulting in the price settling at the equal level. One can use this candle to make a buy or sell decision. If the immediate session closes on a positive note, then the doji is described as ...

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First Published: Thu, June 18 2020. 08:29 IST
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