February 3, 2017

  • Nifty month chart did a Morning start kind of reversal . The negative divergence in daily chart was negated by the bullish formation in Month time frame.
  • Price is now entering previous resistance zone between 8810 to 9119. 
  • Only if price is able to sustain above this zone a bigger breakout can be confirmed. Daily and weekly candles if shows weakness in this zone can lead to a reversal. 


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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