Bearish Cypher Pattern found in Bank Nifty

Just found a bearish cypher pattern in bank nifty index, on daily chart . MACD shows signal line crossing over MACD line, indicating a downtrend and RSI is indicating that the bank stocks are over bought. 0.236 and 0.382 retracement levels will be 19788.54 and 19371.6 respectively.
Comment: This didn't turned up well for me. I better stick to Stocks than Index going forward.


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