Sunpharma Long Piercing pattern

A piercing pattern has formed on 22/3, and the next resistance (target) is at 928. Positive news has also come on the same day as the company is set to acquire stake in another pharma company. Positive MACD crossover is occurring in the 30 min chart, and the stock has bounced from its support level. For this range, advantage can be taken by keeping a stop loss slightly below the resistance, i.e. where the low of piercing pattern is (902), and the target is the next resistance (929). Trade should only be taken if; Volumes are high, and opening should be around previous close, or gap up, which might even indicate a break out from our targets.