Nifty 50 experienced a panic sell in the last couple of hours and has formed a bearish engulfing pattern in daily time frame...but this pattern stays valid only when Nifty 50 starts forming a 5 wave lower high and lower low on a the 15 min chart and breaks the pivot point as mentioned in the chart.Don't exit from your trading portfolio in panic.
Mid caps were falling mainly due to panic selling in IRCTC,INDIAMART,REALTY stocks and METALs.Won't cover the bad news part as it will be reflected in the price action.
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