November 17, 2014

 
  • If the hourly range breaks on the up side then the Negative divergence will be of no use for Bears.
  • Bulls need to stay above 50 Day SMA To avoid a bigger correction.


  • Reliance industries trying to stay above 200 Day SMA and a crucial support zone. Bullish candle here may result in resuming the up move.
  • Bears need a close below 200 SMA for a possible down move.



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"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