5 Comments
  1. Yogi Ramachandran 3 years ago

    May not be as the green body is not engulfing the red fully at the bottom. However, it does seem like a hammer albeit after a short uptrend since Oct 4 so I am not sure if that qualifies. May be Naresh could clarify the same.

  2. Naresh 3 years ago

    Hi,
    Bullish engulfing usually occurring at the bottom of a downtrend. In this case, I think it may be a short covering…A decrease in open interest and an increase in price. So, a decrease in open interest along with an increase in price mostly indicates short covering.

  3. Author
    Rajkumar Dhandapani 3 years ago

    Noted. Let me understand the terminologies which you mentioned.

  4. Smruti Desai 2 years ago

    Noted. Even there is a volume increase in this case.

  5. Manish Babu P S 2 months ago

    Engulfing has to be a reversal to any trend i.e, Uptrend or Downtrend, but in this case it’s a sideways trend and thus we cannot judge for the trend to reverse in anyway

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