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Bearish engulfing pattern is witnessed in the daily chart of Colgate Palmolive (India) Ltd on 30-Sep-2019.
There is a signifcant increase in volume noticed on both the engulfing and previous days comparing to its average volume.
Short position may be intiated below Rs.1512
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Stock Ticker – NSE: COLPAL – Colgate Palmolive (India) Ltd. – CONSUMER GOODS
Bearish Trade plan:
Entry Level 1512 Target 1469 Stoploss 1555
Analyst Rating – :3/5
View Posted on 2019-09-30
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Hi,
The stock might get recovery due to an increase in volume on the breakout which shows a bullish grip and the chart seems like a flag formation. so, better you should review the stock before getting into short position.
Hello Naresh Sir,
Yes. I agree. Thanks for your valuable comments.
The target achieved today.