India, Oct. 23 -- A bullish engulfing pattern is a two-candlestick chart pattern that signals a potential upward trend reversal during a price decline. The pattern is formed when a small red candle is immediately followed by a larger green candle that completely engulfs the red candle's body. The formation of the pattern indicates that buyers have stepped in with strong momentum, completely outperforming the sellers and taking control of the market from bearish to bullish. Vijaya Diagnostic Centre Ltd Chart: Daily Timeframe

The above chart shows the clear formation of a bullish engulfing candlestick pattern, with the follow-up green candle as confirmation of the pattern; also, the price reversal from the major support zone is signalling...