Anticipated to open lower on December 21, the Indian stock market witnessed a significant one-day fall in a year on December 20. Nifty 50 formed a potential downward reversal pattern, prompting caution.
Technical indicators signal a short-term downtrend, urging vigilance. Bank Nifty, amid selling pressure, formed a bearish engulfing pattern.
While short-term resistance is noted, an overall bearish sentiment suggests a prudent approach, emphasizing selling during upward movements.