ACC Intraday Trading Analyze - NR4 range & Bullish Continuation

ACC Ltd is looking attractive for bullish on tomorrow and short term, The reason behind bullish view is ACC traded in last 4 session very narrow range that 12th August is NR4 Day (Narrow Range Day) and previous 3 days candles are formed like Morning Star Japanese Candle Stick formation, So ACC tomorrow might be closed in green candle.

What is NR4 Day Strategy:

When recent day candle stick range is smallest among last 4 trading session including current day that day is called as NR4 day, As per technical analyse the very next day from NR4 day will trade high volatile / range, So that will be an opportunity to use that stock to trade in Intraday Trading.

Follow Opening Range Breakout method to identify the correct trend and Do your own analyse before start the trade, The view described above is only learning purpose.

Intraday Trading View for 21/07/2016 : Cipla - Morning Star Pattern

After Closing today CIPLA formed Morning Star candle pattern as per Japanese candle stick pattern technically tomorrow will make full green candle.

So morning session tomorrow one can BUY but do your own analyse, Successful trader should use Opening Range Breakout/Down technic to avoid lose in Trade.

Credits: Investing.com