Bearish-Piercing-BPCL-04Oct19
Short Position
Risk:Reward – 1:1
Recent price rise trend witnessed.
The bear body covers the high of
the previous day.
Today’s body covers at least 50%
of the previous day’s body.
The lower tail is small in size.
Volume is high during pattern formation.
However kindly note:
- BPCL is in an uptrend
- SL may get triggered if the uptrend continues and/ or if Nifty starts rising again
- MACD still indicates bullish trend
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Stock Ticker – NSE: BPCL – Bharat Petroleum Corporation Ltd. – ENERGY
Bearish Trade plan:
Entry Level 512 Target 479 Stoploss 545
Analyst Rating – :4/5
View Posted on 2019-10-05
Hi sir,
Classic Spot… Let’s See What Happens Next
Thank you.
I guess one may take this trade depending on the market sentiment tomorrow. What is your view?
Dear Ramachandran, classical identification of Bearish Piercing Candlestick Pattern with suggestion to enter or not in this segment stock. Keep it up.
Thank you. The trade hit the target today.