Identify the Candlestick Pattern in Nifty

Candlestick patterns are important tools in technical analysis used by traders to predict future price movements. Each pattern has a unique shape and meaning providing insights into market sentiment. For instance a "doji" candlestick appears when the opening and closing prices are almost the same suggesting indecision among traders. On the other hand a "hammer" pattern indicates a potential reversal as it forms after a downtrend and has a small body with a long lower shadow. Identifying these patterns can help traders make informed decisions about buying or selling assets.

There is a Candlestick Pattern which has formed today in the Nifty daily time frame chart. Simple pattern but can be effective to find the future directions of nifty, which in turn can be traded.

Is the Candlestick Pattern recognizable?

Comment below with your response and forecast the future direction of the Nifty.