The stock of AstraZeneca Pharma India Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

Considering the daily timeframe, the stock of Apollo Tyres Limited has given a horizontal trendline breakout formed by connecting swings highs from August 2020. The stock has formed a sizeable bullish candle on the breakout day, which adds strength to the breakout.

On Tuesday, the stock has formed a bullish engulfing candlestick pattern on the daily timeframe. The bullish engulfing candlestick pattern is considered to be a bullish reversal pattern and usually occurs at the bottom of a downtrend.

The stock has given a downward sloping trendline breakout on the daily timeframe formed by connecting swing highs from June 2020. This breakout is confirmed by the above 50-day average volume.

On the weekly timeframe, the stock has formed a bearish engulfing candlestick pattern, which suggests a possible trend reversal. The bearish engulfing candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

Nifty P/E recently registered a high of 33.26 after almost twenty years. So, is it an indication of market crashing? Let’s find out.