APPLLOHOSP BULLISH DOJI
DOJI IS JAPANESE WORD MEANING NEUTRAL. BULLISH DOJI IS ALSO KNOWN AS MORNING STAR. IT IS A REVERSAL PATTERN. THAT MEANS THERE SHOULD BE RECENT PRICE FALL BEFORE MORNING STAR AND RALLY BEFORE EVENING STAR. THE CHARACTERISTICS OF A DOJI ARE:
1. IT IS A CANDLE WHERE THE OPENING PRICE AND CLOSING PRICE ARE AT SAME LEVEL.
2. IT IS A TREND REVERSAL PATTERN. HENCE THERE SHOULD BE PRICE FALL OR RALLY IN THE RECENT PAST.
3. DOJI WITH GOOD VOLUME INDICATES TREND REVERSAL.
4. IT IS A POWERFUL PATTERN AND HENCE THE REWARDS CAN BE 1.5 TO 2 TIMES THE RISK
PLEASE REFER CHART ATTACHED. APOLLOHOSP STOCK ANALYSED. DOJI HAS APPEARED AFTER RECENT PRICE FALL AND THE VOLUME ON THE DAY OF DOJI IS GOOD. HENCE IT REPRESENTS TREND REVERSAL. CREATED LONG POSITION WHEN PRICE ON THE NEXT DAY CROSSED THE HIGH ON DOJI DAY. AND STOP LOSS IS AT LOW ON THE DOJI DAY. THE REWARD IS FIXED AT 1.5 TIMES THE RISK.
ENTRY PRICE: RS.1016
STOPLOSS: RS.946
TARGET PRICE: RS. 1121
DURATION: 10 DAYS
