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A consecutive bearish and bullish pattern are observed.
Case 1: Bearish Piercing:
The day’s candle opened above previous day’s close and managed to cover more than half of the previous day’s body. It closed near the day’s low.
Trade Plan:
- Symbol: Hindalco
- Direction: Bearish
- Entry: 118
- Stop Loss: 123
- Target: 113.
Case 2: Bullish Engulfing:
The days candle opened way below previous day’s close and moved down by a lot and managed to finish above the previous day’s middle near the high point.
Trade Plan:
- Symbol: Hindalco
- Direction: Bullish
- Entry: 113
- Stop Loss: 105
- Target: 121
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