Gangotri in SBI Life on 27 -9 - 2023

[mehulbosamia@rediffmail.com]

Gangotri chavi applied in SBI LIFE on 27.9.2023
CMP 1297
SL 1275
Gangotri tgt 1595

[Parag Shah-1691375796464]

I am new to noiseless charts can u pls help me with Gangotri chaavi what exactly this means

[Karmavir Mankad-1696224142187]

Please check out at https://shelf.definedgesecurities.com/technical-analysis/vayda-bazar-patterns/vayda-bazaar-ni-chavi/

[Karmavir Mankad-1696224142187]

My understanding - Gangotri = Bullish Engulfing Gangotri A = Bearish Engulfing

[Parag Shah-1691375796464]

@Karmavir Mankad

Thks

[mehulbosamia@rediffmail.com]

@Karmavir Mankad

bullish/bearish engulfing is just a candle stick formations.
where as Gangotri is a situation + candle stick formation.
in gangotri previous trend should be bearish. and Gangotri - A previous trend should be bullish.
check maruti on 3.10.2023 (yesterday) in a strong bullish trend Gangotri - A formed.
Short SL 10710.
you can also apply kaka's thumb rule - if sustains below open can short with days high as a SL at EOD gangotri - A confirmed. so can carry short position.