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Doji pattern close for August futures

The Nifty August futures closed in a Doji pattern on profit booking at the higher level, after earnings of some of the biggest companies such as Tata Motors and Tata Power fell short of estimates. A Doji forms when the opening price (5,130) is the same or very near the closing price (5,128). The Doji formation today was with a long upper shadow, which indicates the buyers were able to push the price up during the session, but were unable to hold the market at the higher levels, conceding ground to the sellers. This formation usually indicates the uptrend is running out of ...