Failed Bullish Piercing pattern in Nifty Futures

After a long bearish candle on 24.1.22, Nifty Futures attempted to stage a reversal on 25.1.22. It opened Gap Down and after testing below to 16851 just above the Support Low at 16842 established on 27.12.21, it rebounded with good buying (mostly short covering) and reentered the range of the previous day. It traded within the previous day's range throughout the day but well below the Halfback (midpoint) of the previous day's range. Towards the end of the day, it attempted a spike up on good volume but could not pierce much above the Halfback level of 17307. The Day's High was 17307. But it closed below that level at 17284. This is not a strong reversal as the market failed to find acceptance above the halfback level of the previous day. The Bullish Piercing pattern requires a rigidness in the penetration into the body of the previous day's black candle. This did not happen today and hence it is a failed pattern.