Nifty forming bearish pattern on charts; stay stock-specific: Vinay Rajani

On Tuesday, the Nifty saw selling pressure coming in the second half. It ended the session with bearish engulfing pattern on the daily chart, which is preceded by small "Doji" candle on the daily chart, adding more confirmation to probable bearish trend reversal.

To confirm short term trend reversal, Nifty needs to breach the low of 18,377 in the coming sessions. Any level below 18,377 could

push Nifty towards next support of 18,000-17,950. The level of 18,600 has become strong resistance for the Nifty and unless that is surpassed, traders should remain bearish. However, stock specific bullish trading opportunities could