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.