This is a reversal trend. The body of the previous day was completely covered on 20th March, 2020. So we call it the engulfing day. The next trading day was on 23rd March. I notice a bullish reversal. I have kept the entry level at Rs 9121.30 which is the high on engulfing day. The stop loss is at Rs 7998.30 which is equal to the low on engulfing day. The target has been fixed at Rs 10244.40. I have arrived it by adding the risk taken in the form of difference between A to B added to the entry price.
GLAXO SMITHKLINE – BULLISH ENGULFING PATTERN
