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
