Nifty Crashes 365 Points, Forms Bearish Engulfing Pattern

Authored By HDFC SKY | Last Modified: Feb 19, 2026 05:39 PM IST

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Nifty witnessed bloodbath on Thursday on the back of rising geo-political tension between US and Iran and the market tanked down by 365 points. After opening on a positive note, the market was not able to sustain near 25900 levels and started to show declines from the highs. The weakness got intensified in the mid-later part of the session and Nifty closed near the lows.

A long-range bear candle has been formed on the daily chart (approx. 500 points high low range) that closed near the swing low of 16^th Feb. Technically, this market action indicates a formation of ‘Bearish Engulfing’ pattern and also a faster retracement of previous four sessions range on the downside in single session. This is not a good sign.

The short term trend of Nifty has reversed down sharply on Thursday after a minor bounce back. A slide below 25400 could drag Nifty down to the next support of 25200-25100 levels in the near term.

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