Morning doji star has formed in the stock IDFC. Reliability of this morning doji star trend reversal pattern is high. Morning doji star is the strong bullish reversal pattern. Average daily volume is also high compare to last week. Last four days volume is follows. On 30-12-2011 – 63,97,124. On 31-12-2011 – 60,04,519. On 3-1-2012 – 64,17,355. And today’s volume is 79,22,454.
We recommend short term delivery traders can buy the stock above 97. This stock is having resistance at 103 and 113. Key support is 92. Keep this price as stop loss. Please read our disclaimer before investing.
What is Morning Doji Star?
Black real body while market is falling down may suggest that the bears are in command. Then a Doji appears showing the diminishing capacity of sellers to drive the market lower. Confirmation of bull ascendancy is the third day’s strong white real body. An ideal Bullish Morning Doji Star Pattern must have a gap before and after the middle line’s real body. The second gap is rare, but lack of it does not take away from the power of this formation.