Bullish piercing is seen after a downtrend. Possible for the price to trend in positive.
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Stock Ticker – NSE: BEL – Bharat Electronics Ltd. – INDUSTRIAL MANUFACTURING
Bullish Trade plan:
Entry Level 116.5 Target 120.5 Stoploss 112.5
Analyst Rating – :4/5
View Posted on 2019-10-25
volume is low is that no an problem.
volume is low is that not an problem
For bullish piercing pattern prior trend should be bearish and volume should be High ??
@gunapvkn: I took the last 2 day bearish trend and watching it.
Hi,
The Bullish Piercing Pattern is a trend reversal pattern that appears at the bottom of a downtrend. The end of the green candlestick should open below the previous day’s low and ends up closing within the price range of the previous day’s real body. The thumb rule is that the bullish candlestick should penetrate and close more than 50% into the previous day’s real body.
Thanks Team for your clarifications.
@naresh :I read this pattern as a kicker or positive indicator some websites. So, Is this indicator a reliable one? I see the target was achieved as per the pattern recommendations. How we have any such patterns which are reliable?