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3 Day Losing Streak

After forming a shooting star on Monday Nifty closes in red continuing the losing streak.Nifty has halted at the magical Fibonacci levels of 78,6% and reversed from there.One more bear day would close this week with a Bearish Shooting Star candlestick pattern on weekly chart tampering the sentiments. Furthermore weakening Rupee &  Crude oil peaking above 80$/Barrel adding more to the woes.

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DOJI

Nifty witnessed an absolutely sedate session,the bias looked positive but lacked momentum . The broader market was negative with 665 advances to 808 advances.The rally seemed to take a halt for a day before continuing further.i feel that the rally would take the markets to 5470-5500 before correction.since we are lacing fundamentally the longevity of this rally cannot be counted on.                                                                                                       On the hourly charts we are making higher highs and higher lows keeping the momentum intact,still as advocated a burst of 40-60 points on the nifty is still pending before correction ,i feel this might come tomorrow.Hence adding nothing more to i...
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