Candlestick Chart for NIFTY 50 Index Formed on Friday, Mar 25, 2022

On Friday, Mar 25, 2022, NIFTY 50 Index (NIFTY) Index price formed the following Dark Cloud Cover Candlestick chart pattern on the price chart:

DayOpenCloseBody Length
Previous Day’s₹17,094.95₹17,222.75₹127.80
  • The Dark Cloud Cover is a very special kind of strong reversal pattern.
  • When formed on an uptrending move, it signals a very strong indication for reversal of prices
  • That is, its formation leads to decline in stock prices in future
  • The first candle is a green-colored, non-doji long bullish candle.
  • The second candle is a red-colored, bearish, non-doji candle
  • The close of the second candle is located somewhere between the first candle’s lower half body.
  •  The open price of the second candle can be above or equal of the prior high.
  • A clear indication that a strong reversal may be coming soon, dark cloud is seen as a positive development.
  • Most of the active traders usually wait for the next confirmation candle to form before getting into the trade on a dark-cloud-cover-based candlestick pattern

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