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Positive Trend

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move upwards from a downtrend. Here are 11 stocks with m-cap over Rs 1000 crore that have established a bullish engulfing pattern on Friday (July 14, 2023) and hint at bullish reversal in the future. (Source: StockEdge)

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What is a bullish engulfing pattern?

This is a 2-candlestick pattern in which the first candle has a red body followed by a candle with a long green body, which engulfs the red candle’s body. If the pattern appears after a downtrend, probability of a bullish reversal increases if price trades above the high of 2 candles.

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What is a bullish engulfing pattern?

This is a 2-candlestick pattern in which the first candle has a red body followed by a candle with a long green body, which engulfs the red candle’s body. If the pattern appears after a downtrend, probability of a bullish reversal increases if price trades above the high of 2 candles.