ACC Long Legged Doji on 100 EMA supportAfter 1 month correction NSE:ACC has formed long legged Doji candle on 100 EMA..
A long-legged doji signals indecision about the future direction of the underlying security's price.
Long-legged dojis may also mark the start of a consolidation period..
The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a trend reversal may occur..
Since the pattern is viewed as an indecision period, a trader could wait for the price to move above the high or low of the long-legged doji..
The long-legged doji is more likely to give a valid signal if it appears near a major support or resistance level.. And since it is on support of 100 EMA one can bias with Bullish sentiments.
If Stock starts to trade above High of Long legged Doji (2260/-) enter LONG position with SL at low of Doji (2200/-) or below 100 EMA..
for first target of 2360/-, & second 2450/-
If stocks trades Below Low of candle (2200/-) enter SHORT position with SL at High of Doji candle (2260/-)
for target 2100/-
**EDUACATIONAL PURPOSE
