CNX NIFTY: Daily Review at Closing

Nifty got above the resistance area 8785-8800, but couldn't hold above this new support area, in today's session and closed under yesterday's low.

Now Daily charts had a Bearish Engulfing Pattern , which wrapped around the entire previous day candle, which is a negative signal , until negated on closing basis.

If we look at Monthly, we still had Evening Star Pattern Intact.

On Hourly Chart , we had a channel breakdown.

Near Term Supports: 8700, 8630, 8500.
Resistance : 8844.