Day Trading Stocks & Futures

[iwillwin]

Is this bearish engulfing on monthly for Bata?

 

[joyesh]

Is this bearish engulfing on monthly for Bata? View attachment 35230

Hi,

While it may appear at first sight that the pattern formed by Bata on the monthly charts is a bearish engulfing pattern, it does not strictly meet the all the criteria of a bearish engulfing pattern.

One of the criteria is that the red candle should open above the close of the last green candle which is not the case with Bata.

Additionally, a bearish engulfing pattern requires confirmation. This is achieved only if the next candle opens below the close of the large red candle. We will have to wait and watch for that to occur.

In the event that the next candle opens lower than the red candle, one can attempt a short position with stop loss at the highs of the previous candle, that is, in the vicinity of 1490.

A close below the EMA(8) which is presently at 1240 can be used to build on to the short position. Keep a close eye on moves that negate the bearish pattern or a possibility of consolidation.

I hope this helps.

Looking forward to more views of traders on this.

 

[vikas2131]

US growth has completely rolled over....

 

[vikas2131]

NIFTY

This Expanding Triangle on Nifty is Very Much Valid Still!

Once Current Move Near/Above 12k on Nifty is Exhausted, There May Be Attempt to Lower Boundry of Triangle in Next Quarter

NIFTY PE & Fear of Heights is Making It Difficult to Sustain at Current Levels!

 

[vikas2131]

 

[vikas2131]

 

[vikas2131]

 

[iwillwin]

View attachment 35237

It's gonna fall for sure tomorrow based on Auto sales numbers...
All auto numbers are very bad

 

[siddhant4u]

Auto sales no are low, gdp down, unemployment up, company results are down... conditions are ripe for Nifty to make another high

 

[iwillwin]

Auto sales no are low, gdp down, unemployment up, company results are down... conditions are ripe for Nifty to make another high

That's Market for all of us... Random, unpredictable