Bullish Engulfing candle stick formation is seen in Bajaj Holding with high volume. Prior to this it was in downtrend.
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Hi,
Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more red candlesticks, which is usually occurring at the bottom of a downward trend but here the prior trend is sideways movement.
Yes Nice spot … but first Standing Hammer… we can say also its hammer break out….