February 27, 2017

  • Nifty hour shows possible bearish price action from a rising wedge pattern. But bears need to sustain below 8900 levels for bigger falls to happen in their favour.
  • Daily too has a bigger Rising wedge But one has to wait few more sessions to understand how this one takes shape. 

February 26, 2017

  • Crude oil bulls failed to close near the High's.
  • Weakness only if price starts to stay below 50 Day SMA. Upper breakout opportunity exists if price continues to stay above 50 Day SMA. 

February 25, 2017

  • Price yet to hit the resistance line.
  • 4 Hour chart shows price in a small range. Price may make new high's to hit the resistance line.
  • 50 Period SMA acted as support. Bears need a close below this line to start correction in this time frame.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore