Observed a bullish engulfing pattern at the immediate support level with good volume on the red candle day indicating that the fight has taken place.The prior trend was also a downtrend.The indicators RSI should a slight upward momentum but could not confirm as it did not start from under 30.However,the MACD signal line is above the line which confirms that the market is bullish. The target also touches around the immediate resistance level.Please feel free to comment on this observation as this is my first call in stock market after practice.
, , DABUR
good observation … title containing both bullish and bearish is misleading. I wud have given: DABUR-BULLENGULFING-31MAR.
Thank you for your feedback and the title is actually bullish engulfing pattern – apologies for the mistake.
Target was achieved on 5th April, while the entry was made on 3rd April.