NTPC-Bearish piercing-Entry:124.5 Stop Loss:130 Target:113

[M Prem Rajan]

NTPC has formed a piercing candle with high volume. Although there looks like support at 122 levels, these were formed with low volume and am hoping that this would be breached and a target of 113 is possible. The price has not yet reached the low of the piercing candle, which is expected to occur in next day or too which would be the entry time at the price of 124.5 with a stop loss of 129.

[M Prem Rajan]

No trade as the price did not reach entry levels till 9 days and it reached almost the stop loss price of 129.5 on 20-oct-2015.

[EQSIS]

i appreciate your efforts in follow-up analysis….

The candlestick are generally useful for short span of time, so as the entry was not triggered in next few day, hence we can ignore this signal for trading…. But you can still consider this for understanding the demand and supply zone….

[Author]

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