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Bearish engulfing pattern noticed on 27-Sep-2019.
Significant volume noticed eventhough there is no very high volume.
In addition, RSI also shown OVER BOUGHT.
SHORT Entry Below 3010 may be initiated.
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Stock Ticker – NSE: BRITANNIA – Britannia Industries Ltd. – CONSUMER GOODS
Bearish Trade plan:
Entry Level 3010 Target 2910 Stoploss 3110
Analyst Rating – :3/5
View Posted on 2019-09-27
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Is the volume is important this case or not?
Yes. Volume is important. But I considered this entry because RSI also supporting.
The entry may be considered if the next day price confirms the bearish.
Target Achieved today. Today’s low was 2900.15