The EOD charts for 24th Sept 2020 for Godrej consumer products can be found at: https://drive.google.com/file/d/1cy1BNhRj8S8g8wxeWmx5889eeydvIz5L/view?usp=sharing
My questions are purely from a very short term trading perspective with a holding period of around 7-8 trading days.
Couple of questions:
1)Can we consider that GCP has formed a bullish engulfing pattern today?
The scanner on Zerodha Streak also indicated that a bullish engulfing pattern was formed. However, Zerodha Kite isn’t showing the formation of this pattern.
2)Can the prior trend here be considered bearish?
The stock has been in a downtrend since the last 3 sessions.
The stock price has reduced by 5.1% since the last 3 sessions.
I ask this because, in all of discussions on Zerodha Varsity, it has been stressed that for a trend to be considered, we look at atleast the last 8-10 sessions. However, in this case, i am just talking about the last 3 sessions.
3)Which one would you prefer for a scanner? Zerodhat streak or Pi with expert advisors?