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Do hugging lines proficient to hold bulls of nifty?

Índice Nifty 50 (NSE:NIFTY)  
forextidings Atualizado   
NSE:NIFTY   Índice Nifty 50
Trend Analysis Elliott Wave Parallel Channel elliottwaveprojection elliottwavecorrection NIFTY nifty50 niftyanalysis niftytrend niftyindia
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trendanalysis elliottwaves parallelchannel elliottwaveprojection elliottwavecorrection nifty nifty50 niftyanalysis niftytrend niftyindia
Nifty is forming a bearish engulfing pattern on the daily time frame chart, and the price also declined from the control line of the parallel channel.
If the price sustains below the previous trading session, we can see a bearish move for the following targets: 17008 - 16867 - 16760.

Previous chart:
Nifty outlook - Strong Recovery or Impending Decline
Selling Targets:
TP 1: done
TP 2: done
Trade fechado: objetivo atingido:
Nifty reached the first target of 17008.
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