Technical View | Nifty forms Bearish Engulfing pattern; 17,710 crucial for market direction

The Nifty50 fell for the first time in the last nine consecutive sessions and closed with over a percent loss on August 19. On the daily charts, the index formed a Bearish Engulfing Candlestick pattern. Hence, if the index holds its Friday's low point of 17,710 in the coming session, then there is nothing to worry but if it breaks, then it can correct up to 17,500 levels, experts said. Read more here.

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