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Indian stock market · candlestick pattern

Doji on Bank Nifty

On Bank Nifty the doji showed up 112 times. Within 12 candles price broke up 54% of the time, broke down 46% and stayed inside 0%.

Counted on Bank Nifty: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundBroke upBroke downStayed inside
Daily2454%46%0%
Hourly8853%47%0%

Bank Nifty against the rest

ChartsFoundBroke upBroke downStayed inside
Bank Nifty11254%46%0%
All Indian stock market charts10,06650%48%1%
Every market69,19749%49%3%

Year by year

YearFoundBroke upBroke down
2018560%40%
2019540%60%
2020450%50%
2022475%25%
20255258%42%
20263754%46%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the doji is

Open and close are almost equal. Buyers and sellers are in a tie.

Picture a tug of war where both teams pull hard, but when the whistle blows the flag is right back in the middle. A doji candle is that tie: price moved up and down, but it closed almost exactly where it opened. Nobody won this round.

The full doji lesson, video and quiz ›

Other patterns on Bank Nifty

Inside bar · Stochastic bearish cross · Stochastic bullish cross · Spinning top · Gap up · Gap down · MACD bearish cross · MACD bullish cross · EMA 9/21 bullish cross · EMA 9/21 bearish cross · all of them

The doji elsewhere

Sensex · Nifty 50 · Bharti Airtel · Infosys · Mahindra & Mahindra · Coal India · ICICI Bank · Hindalco · State Bank of India · Shriram Finance · Dow Jones · S&P 500 · Nikkei 225 · Sony · GBP/USD · EUR/JPY · Gold · Silver

Questions

How often does the doji work on Bank Nifty?

In 112 cases on Bank Nifty, price broke up 54% of the time, broke down 46% and stayed inside 0% within 12 candles.

What is the doji?

Open and close are almost equal. Buyers and sellers are in a tie.