HINDALCO-bearish-piercing line-entry:149, SL: 155

[dharanija]

Forming a bearish piecing line pattern where the more than half of the previous day body is covered by the today’s body

 

Trade plan: Symbol: HINDALCO, direction: bearish, entry: 149, target: 143, stop loss : 155

[Ajai Kamath]

Good attempt @dharanija. However I believe you have to be careful with this trend. Following are suggestions

1) There is a gap between two green candles which is not filled by red candles. This shows how bullish the stock is. This is difficult to categorize as piercing line
2) The red candles must have started above the green candle and ended below half of the green candle
3) The Day 2 red candle must cross below the low of both green and red candle, to start trading

[dharanija]

I’ll see to that .Thank you

[Udayarka Pakala]

I think stoploss marked in the chart is incorrect. Please review

[Author]

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