October 27, 2015

  • Apple week shows price continues to move inside the right shoulder of a bearish head and shoulders pattern.
  • 4 Hour chart shows price getting resisted at 200 SMA. Bulls need to keep price above 117 and 119 levels to avoid bigger corrections from happening.

  • Bank nifty daily has given a bearish engulfing pattern at the golden ratio. Bears need further confirmation with another bearish candle with good volumes to confirm the engulfing pattern.


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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