Go for Short.
Nifty 50, on weekly basis, has formed a perfect bearish engulfing pattern.
Observations:
1 Previous trend- Uptrend
2 Open on week two is higher than week one close.
3 Close on week two is lower than week one open price.
4 Strong sell on week two indicates bears may have broken down bulls stronghold.
Observations:
1 Previous trend- Uptrend
2 Open on week two is higher than week one close.
3 Close on week two is lower than week one open price.
4 Strong sell on week two indicates bears may have broken down bulls stronghold.
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