NIFTY NEAR 200 DAYS SMA

1 HAS FORMED LARGE BEARISH ENGULFING OF PREVIOUS BAR.
2 HAS NOT YET CROSSED 200 DAYS SMA.
3 TREND LINE NEAR BY LIKELY TO OFFER RESISTANCE.
4 BREAK DOWN OF NIFTY MAY TAKE IT TO TARGET 1 TARGET 2 AND TARGET 3 AS SHOWN IN THE CHART.
5 IF NIFTY SURVIVES TARGET 1 AND TARGET 2 UPSIDE POSSIBLE AS SHOWN IN THE CHART UPSIDE.