Jain Irraigation : Piercing Candlestick pattern
Updated
Jain Irrigation is forming piercing candle pattern on daily chart. Any close above 22.70 would be positive as volume on reversal is day very high. Those who wants to trade only on candlestick pattern should put stop loss below 16. CCI is also showing positive divergence on daily chart.
Strategy 1 : Buy if stock is trading above 23 during 3-3.25 p.m. stop loss 16 target open.
Strategy 2 : Those who want more confirmation can wait for RSI to cross above 30 and CCI to cross above -100.
Strategy 1 : Buy if stock is trading above 23 during 3-3.25 p.m. stop loss 16 target open.
Strategy 2 : Those who want more confirmation can wait for RSI to cross above 30 and CCI to cross above -100.
Trade active
Made high of 26.65Trade active
made high of 29.35. those who want safe bet can trail SL to 22. Others can continue to hold with sl of 18
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