At 12:55 hrs VEDAVAAG System has formed a bullish engulfing candlestick chart pattern today. The Bullish Engulfing Pattern consists of two candlesticks; the first black and the second white. The white body must totally engulf the body of the first black candlestick. After a decline, the second white candlestick begins to form when selling pressure causes the security to open below the previous close. Buyers step in after the open and push prices above the previous open for a strong finish and potential short-term reversal. Generally, the larger the white candlestick and the greater the engulfing, the more bullish the reversal.
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