Bullish Piercing is a Bottom Reversal Pattern.After a fall in price, the security reaches at the support level. a green candle gaps down and closing higher than half of the first bearish candle – ie – green candle should at least cover 50% mark of previous red candle- Piercing Line is formed. The uppe tail of the green candle should be small in size – which indicates bears out of market.
Bullish Piercing : HAVELLS
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Stock Analysis
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Bullish View
Bearish View
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Hi,
your observation is good.
I got a clear insight about Piercing Pattern during workshop training.Murugan Sir stressed on one point- Upper tail of today’s candle body should be small in size- A real insight for me as far as this pattern is concerned.
Thank You Vignesh