These 7 stocks may see move downward from current uptrend zone
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Bearish trend in the offing
Bearish reversal scan on the candlestick screener can help in ascertaining stocks where the trend can change to downtrend from an uptrend zone in the future. So, here are 2 NSE stocks that have established a Bearish Engulfing pattern (with m-cap over Rs 1,000 crore) and signify bearish reversal. (Source: StockEdge)
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What is a Bearish Engulfing pattern
It is a 2-day pattern with a green candle and followed by a short candle within the green candle’s range in an uptrend. This pattern suggests an upcoming change in the current bullish trend.
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GMR Power
LTP as on May 29: Rs 16.85 | % change in stock price: -2.3%
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TCPL Packaging
LTP as on May 29: Rs 1,585.85 | % change in stock price: -2.4%
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Kirloskar Oil
LTP as on May 29: Rs 388.75| % change in stock price: -2.9%
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Bosch
LTP as on May 29: Rs 18,296 | % change in stock price: -3.4%
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Anupam Rasayan
LTP as on May 29: Rs 1,154.8 | % change in stock price: -5.3%
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Nitin Spinners
LTP as on May 29: Rs 259.45| % change in stock price: -4%
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BCL Industries
LTP as on May 29: Rs 446.45| % change in stock price: -3.6%