March 20, 2017

  • Nifty weekly chart staying above 8900 will continue to favour bulls.
  • Month candle too shows a bullish March candle so far. March closing above the shaded resistance level will strengthen bulls further. Bears must deny this event from happening to avoid a bigger bullish move.
  • Daily chart shows a crucial GAP in chart. If correction continues this GAP can act as support. Bigger bearish possibilities only if Bears are able to close price below this GAP.
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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