Dragonfly Doji in Relcap - 14th Jul 09

A candlestick Dragonfly Doji is formed in daily chart of Reliance Capital marked in the above chart. They tend to form at the important change in the trend. It is a reversal pattern, and the probability of success is high when it form after significant down trend. It formed just above the Gap support, which is also good indication.

Dragonfly Doji:- When the High, Open and close of the bar happens at the same level. It is a good trend reversal indication, especially after a good down move. The success rate is high when they form at the bottoms.

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Update at 7:10 PM :

Above is the Daily chart of Reliance Capital. Reliance Capital is up about 9.2% in today's trading section. If one would have gone long above 5 min bar with filter must have got 3.5 % intraday profit