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Cfa_Arvind

Bearish Engulfing in Nifty

Short
Nifty 50 Index (NSE:NIFTY)  
Cfa_Arvind  
NSE:NIFTY   Nifty 50 Index
Trend Analysis Chart Patterns Beyond Technical Analysis Bearish Engulfing Shooting Star downtrend regression-trend-channel NIFTY shortsell
2
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trendanalysis chartpattern beyondta bearishengulfing shootingstar downtrend regression-trend-channel nifty shortsell
Nifty has formed bearish engulfing on daily basis and shooting star in a weekly chart.

Dual bearish candle at downtrend line showing weakness in Nifty.

RSI is in overbought zone and now started moving down from above 80 to 70 level.

Short term trend is still bullish but below 17700 or breaking below regression line, trend will reverse.

Nifty Short below 17700
Stop Loss above 18000
Target 1 - 16800
Target 2 - 15200
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