Bullish Engulfing, Divergence at Rectangle pattern Support
Updated
Price has been moving in Rectangle pattern with multiple touches on both sides. It's a tall pattern with the width of 80 points so one can trade it like : buy at the bottom and sell at the top one, then reverse the trade. Previously it has given only one single touch on both sides but this time it has consolidated long. It is making divergence and today's engulfing suggests that buyers are emerging after the consolidation. One can buy the stock now with small stop loss of low of today. It may touch the other side but it can touch 500 level soon and for that risk to reward would be reasonable good.
Disclaimer : All ideas and comments are my personnel view, please take advice of financial consultant for trading decision.
Disclaimer : All ideas and comments are my personnel view, please take advice of financial consultant for trading decision.
Trade active
Trade closed: stop reached
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