Nifty 50 Breaks Four-Session Recovery to Form Bearish Engulfing Pattern

The Nifty 50's four-session recovery halted on Tuesday as the index declined nearly 160 points from its intraday high to close down 85.30 points at 23,329.

The session formed a bearish engulfing candlestick pattern after the index failed to sustain above its 8-EMA short-term trend indicator.

Analysts identify the 23,500–23,600 range as key resistance, with immediate support positioned near the 23,286 level.