Tech Mahindra , bearish Engulfing candle Pattern on 27/04/2018
Script is in the strong uptrend since last few months.
Script has formed a inverted hammer at the top, which is a bearish sign.
On 23/04/2018. it has formed a bearish engulfing candle, which has engulfed the previous green candle with average volume.
Entry below the bearish engulfing candle low at Rs. 668.45.
Stop loss is the high of the bearish engulfing candle at Rs. 695.85.
Target is the risk taken at Rs. 641.05.
Risk taken Rs. 27.40
Risk Reward Ratio is 1:1
Duration expected to achieve the target is one week, from the entry.
