Can you please help to understand is the below situation be considered as bullish engulfing?
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Bearish-GAP-SHORT-BICON-25-10-2019 October 25, 2019
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FEDERAL BANK – BEARISH ENGULFING October 17, 2019
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Cummins India – Bearish Engulfing – 24Sep19 September 25, 2019
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Day29-Tata Motors DVR – Bearish Piercing – 12Sep19 September 12, 2019
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Day27-Bearish-Engulfing pattern-Tech Mahindtra-09Sep19 September 10, 2019
May not be as the green body is not engulfing the red fully at the bottom. However, it does seem like a hammer albeit after a short uptrend since Oct 4 so I am not sure if that qualifies. May be Naresh could clarify the same.
Hi,
Bullish engulfing usually occurring at the bottom of a downtrend. In this case, I think it may be a short covering…A decrease in open interest and an increase in price. So, a decrease in open interest along with an increase in price mostly indicates short covering.
Noted. Let me understand the terminologies which you mentioned.
Noted. Even there is a volume increase in this case.
Engulfing has to be a reversal to any trend i.e, Uptrend or Downtrend, but in this case it’s a sideways trend and thus we cannot judge for the trend to reverse in anyway