Bullish piercing pattern is identified in TCS 1st feb 2017.Here the green candle cover half of the previous red candle hence we confirm thats a bullish piercing pattern.
Entry-2243.2
Target -2342.7
stop loss- 2156.7.
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Hi,
A green candle should cover the previous day’s low….. Behind the candle, the recent downtrend is followed by a green candle that opens lower than the previous close. Soon thereafter, the buying pressure pushes the price up halfway or more…. it clearly intimates the short term rally