India, June 3 -- This pattern indicates a momentum reversal, as buyers overpower sellers after a brief period of weakness. The bullish candle engulfing the prior bearish one shows a distinct shift in sentiment as buyers regain control.

On Tuesday, Havells India Ltd formed this bullish engulfing pattern following a brief corrective phase. The strong green candle was supported by high buying volumes. A sustained move above 1,176 could trigger further upside, while a drop below 1,173 would weaken the bullish outlook.

In a bullish engulfing pattern, targets are typically set near the closest resistance levels following the reversal. Traders may trail profits as prices rise, booking partial or full gains around key resistance levels while mo...