Nifty Observation

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  • Nifty could form a Bearish Engulfing candle on the monthly chart if it closes below 11057 this month

  • The table below shows how Nifty has fared on the last 5 occasions when it completed a monthly Bearish Engulfing pattern (Note: only those Bearish Engulfing patterns are taken into consideration that formed following a rally in price)

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It could be more interesting if you explained the same using Nifty chart. It could be a learning experience for many of us.