Bearish Piercing Line pattern – Ambuja Cements

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Bearish Piercing Line pattern – Ambuja Cements

Trade plan:

1. Symbol: Ambuja cements
2. Direction: Short
3. Entry: 187
4. SL: 196 (Risk = 9)
5. Target: 178 (Reward = 9)

Reasons for qualifying bearish piercing line pattern:

1. Recent rise in price witnessed
2. Latest  red bearish body  cover above 50% of the previous day green bullish body
3. The bearish body opens almost equal to the previous day high (bullish body high)

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