SUN PHARMA - Bullish Engulfing Candle, 31Aug Engulfing - Bullish ( Marked as "BE" on the chart ) - Time Frame for the chart is 30 Mins
Engulfing Bullish is a reversal pattern usually found at the end of a given downward trend, it consists of two candles. To distinguish the first day, this candlestick pattern uses a small body, followed by a day where the candle body fully overtakes the body from the day before, and closes in the trend’s opposite direction. Although similar to the outside reversal chart pattern, it is not essential for this pattern to completely overtake the range (high to low), rather only the open and the close.
Volume is supporting the trend, targets on the charts may be achieved.
