Bearish Candle stick pattern can be seen in Glenmark stock with very High Volume. The stock is in the downtrend and RSI<30 which indicates weakness of the stock.

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Stock Ticker – NSE: GLENMARK – Glenmark Pharmaceuticals Ltd. – PHARMA
Bearish Trade plan:
Entry Level 500 Target 480 Stoploss 520
Analyst Rating – :4/5
View Posted on 2019-06-22

3 Comments
  1. MOHAN KUMAR R 3 years ago

    Hi saravanan sir,

    The main condition for bearish engulfing is appearance of negative engulfing candle during a positive trend. Negative engulfing candle during negative trend should not be considered.

    • Author

      This stock is not in a bearish engulfing pattern which I have not mentioned. RSI is below 30 which indicates weakness but do not indicate oversold scenario.

  2. Author

    Target 480 achieved.

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