Federal bank has been on a short term uptrend during past few trading sessions. After continuously making higher high and higher lows, today (10-04-2018) the script opened gap up above yesterday’s high but could not continue it’s upward movement due to heavy selling pressure and ended up closing with a long red candle engulfing the previous day’s green candle. Thus creating a Bearish engulfing pattern. The volume was above average compared to past ten day’s volume.
FEDERAL BANK – BEARISH ENGULFING
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Stock Analysis
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Bullish View
Bearish View
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Hi sir,
your observation is good.
Hi Vignesh,
Thanks for your comments.. will this call get dismissed incase the underlying does not break below 96 by end of today? I mean if it does not break below 96 today but breaks tomorrow can i go short?
Hi Vignesh,
Can we call it a Cup pattern ?