NIFTY 200 : IF Bearish Engulfing not breached a fall likely soon

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A Bearish Engulfing pattern formed at the top of channel is a important point to note on the chart. Fresh long entries should be avoided right now until a fresh high breaks. On the other side if current formed low breached markets may see the lower lows coming forward. Study the charts on indices carefully. Strategy : FRESH LONGS + BUY PUTS , Only BUY + Strict Stop Loss , No signs of selling yet. Still strong standing on upside.