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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
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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.
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.
Target 480 achieved.