Technical View From Capitalheight: Nifty forms a ‘Long Legged Doji’ on weekly charts; 10,818 crucial for bulls

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The Nifty 50 which opened with a gap down managed to recoup a majority of its losses and closed flat with slight negative bias on Friday. It made a bullish candle on the daily charts on an intraday basis and a ‘Long Legged Doji’ kind of pattern on the weekly charts.

A typical long-legged Doji pattern is formed when the opening price is almost equal to the closing price but there was a lot of intraday movement on either side.

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