JK Bank was shared in this thread in Sep 2022 and it has had a dream run since then. Stock hit a swing high of 62 on Thursday and on Friday it gave a big bearish engulfing candlestick with high volumes. After such a sharp rally, a bearish engulfing candlestick is usually indicative of a short term top and one should be wary of fresh entry, or if invested, tighten stop losses. 48 which is a 52 week high for the stock should be a crucial level to watch in terms of support on declines. (usually region around 48, so a few rupees plus or minus this level. ) disc: had booked profit earlier, only to see the stock shoot up crazily.
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