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Prior uptrend with good volumes
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Stock Ticker – NSE: ICICIPRULI – ICICI Prudential Life Insurance Company Ltd. – FINANCIAL SERVICES
Bearish Trade plan:
Entry Level 477 Target 466 Stoploss 488
Analyst Rating – :4/5
View Posted on 2019-10-24
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This engulfing is not with good volume, please justify.
For engulfing and piercing pattern the volume doesn’t matter, it’s all secondary conviction but when it comes to doji, hammer and hanging man the volume should be a matter.
Thanks for the clarification Naresh
You may be right. Volumes lower than 10 DMA.
At the same time today’s traded volume over 20lacs.
Let’s see what happens. May be traded with hedging.
Good find.
I have few questions
1. How long the reversing trend will present ?
2. How do you pick stocks to identify pattern because there are over 5000 companies ?
Sorry for the question if it is bit amateur.
Hi, please find my views below:
1. It is difficult to say till when the trend reversal would continue. However, you could look at past support/ resistance levels for an indication.
2. I look at high volume stocks for my analysis at the moment as I too am still learning to trade.