India, Feb. 3 -- The Bullish Engulfing pattern signals momentum reversal, as buyers overpower sellers after weakness, supporting bullish potential. A Bullish Engulfing pattern signals a potential reversal after recent weakness. The strong bullish candle engulfing the prior bearish one shows a shift in sentiment as buyers regain control. Renewed buying interest improves confidence, and sustained strength above the pattern's high may drive further upside momentum.

On Monday, Reliance Industries Ltd formed a Bullish Engulfing pattern on the 1-hour chart after a brief corrective phase. The strong green candle was supported by above-average volumes, saw a 62% increase in volume activity on Monday compared to previous session. A sustained move...