Doji candlesticks have the same open and close price or at least their open and close prices are very near each other. Doji suggest indecision or a struggle for positioning between buyers and sellers. Prices move above and below the open price during the session, but close at or very near the open price.
Neither buyers nor sellers were able to gain control and the result was essentially a draw.
In the NSE, a number of stocks in the Futures & Options Secment made DOJI patterns on the weekly chart, for the week ending on July 4. Some of the names are: ABB, APIL, AURO PHARMA, BAJAJ HIND, .......
What's going on ? The Nifty has been in a bear market falling from 6350 to 3850, going down week after week. Now, in the week that just ended, a number of stocks have made DOJI patterns suggesting indecision. Indecision on what ? Since the current trend has been down, the DOJI patterns coming at the lowest point of the down move (so far) tell us that the market has suddenly become indecisive on further down moves.
This, then is an initial sign of a possible reversal of trend. The signs are not enough. if prices fall below of the DOJI candles, the indecision is removed as the trend becomes down again. But, after a long period, some stocks are saying: We have a DOJI, maybe we will change the trend to up.