GRASIM-BULL PIERCING

[ragunathan]

Volume is high on piercing day.

BUY-3646.5, STOPLOSS-3555, SELL-3738

[Bagya]

Sir,

A doubt about the piercing pattern you have posted.  Your post meets two criteria of piercing pattern – Reversal trend and High volume.  But another important criteria of piercing pattern is today’s green body has to cover yesterday’s low.  In your post yesterday’s low was not covered by the body.

Please forgive and correct me if I am wrong.

[ragunathan]

Mam,

Your thought of view is correct. In piercing pattern, the candle should cover previous candle’s low. I considered it in my view, green candle should cover the previous candle’s closing price.

[Author]

Posts