A pattern is a chart pattern that consists of a small white with short shadows or tails followed by a large black that eclipses or "engulfs" the small white one. As implied by its name, a pattern may provide an indication of a future .
Rest in charts.
Bullish momentum sign
1) indicator in uptrend
2) Sign of investors holding with large BH as scrip hasnt corrected too much in spite of
3) Fundamentally sound company which has managed to reduce debts henceforth decrease in finance costs in their Q3 results which has eventually increased their PAT/Regularly paying taxes/Sales growth
4) Macro factors should also support the growth history like increase with government thrust on infrastructure as the infrastructure has stayed in recession since long so likely to uplift now, M&H CV segment already seeing growth in volumes
Aiming towards TP- and beyond thereon after entry confirmation until the scrip sustains above support levels.
SL as per risk appetite
If Three white soldiers candlestick pattern is completed, We might see great surge then
Will the scrip manage to rebound back with hammer seen at downtrend wherein When the high and the close are the same, a bullish Hammer candlestick is formed and it is considered a stronger formation because the bulls were able to reject the bears completely plus the bulls were able to push price even more past the opening price.
Results should decide further outcome on 18th May.2018
The price action can be seen in ascending triangle pattern. Aforesaid Macro factors should support the OEM in its growth chart