From the chart, it is seen that after a significant price fall, there is a positive movement of price. That price movement engulfs the previous day negative movement. This shows the occurrence of an Engulfing pattern. Since it occurs after a price fall, this indicates a trend reversal and the price is expected to increase further. It is recommended to create a Long position.

2 Comments
  1. Aravind T 7 years ago

    Good spot

  2. Vijayavani 7 years ago

    Brilliant.

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