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Bearish flag witnessed in Mahanagar Gas Ltd, Volumes are high during the engulfing pattern, prior short term uptrend.
We can plan a trade when price breaches the low of engulfing Candle.
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Stock Ticker – NSE: MGL – Mahanagar Gas Ltd. – ENERGY
Bearish Trade plan:
Entry Level 777 Target 697 Stoploss 857
Analyst Rating – :3/5
View Posted on 2019-08-10
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Hi All,
It is a Bearish Engulfing, mistakenly wrote as flag.
Thanks
Stoploss hit:(
Hi Venkatesh, as per our trad plan we would have initiated it only if the price drops below Rs.777/-( lower tail of the engulfing candle). But the price has not dropped bellow Entry price. So our trad plan would not have initiated.