How to trade Maruti, L&T, HEG, Graphite India and UltraTech Cement

The candlestick formation on the daily chart of Nifty50 index resembles engulfing pattern. On Friday, the index closed 69 points or 0.64 per cent lower, thus engulfing the previous candle. Theoretically, the formation is known as Bearish Engulfing pattern. 

The previous candle 'doji' indicated indecision. On Friday, it crossed the high of doji which was 10,866 level, indicating uptrend. However, the session ended breaking the low of the doji pattern, located at 10,798 levels. The session closed with negative sentiment as the index slipped below 10,798. Furthermore, as the session has engulfed the previous candle, the low of the day