Sample stock: PFCL, identified bullish engulfing with the following observations:
Period:8th nov 2016 to 10th nov 2016
1. downtrend in price 2. bearish(red colour)candle followed by bullish candle(green). 3.Green candle body totally engulf red body. 4.Green candle opens below previous close(sellers pressure) and closes above prior open(buyers step in)marking strong finish and reversal of trend. 5. increase in volume
Considering risk/reward ratio at 1:1
stoploss | 103.1 |
entry | 117.4 |
target | 131 |