Indigo [ Interglobe Aviation] Bullish piercing candlestick pattern [practice]
Down trend of 15 days.
Candle of 19/03/2018, a bearish candle.
On 20/03/2018, candle opened well below the low of the previous bearish candle. The price moved up from the open and managed to close above the 50% of the previous red candle’s body. Volume marginally increased.
Entry above the high of the previous red candle at 1261.60
Stop loss Rs. 1190.10
Risk 1261.60-1190.10= Rs. 71.50.
Target 1261.60+71.50 = Rs. 1333.10
Risk Reward Ratio is 1:1
Duration expected to achieve the target is 7 days.
Target achieved 7 days.
