Bullish Marubozu is a candlestick pattern which has no wicks or shadows & looks like occuring in the middle of the correction Holding 161 as key level going above 165- likely it travels in the previous high swing zone of 172-173- where it shall finish its correction & start a downside move but one thing at a time. Currently it looks upside with key support 161.
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09:35 Hrs 13th Oct2016
It did not hold 161 which was key level & made a low@158.10- Let me come back again
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13:55 Hrs 13th Oct2016
Trading@152
Pattern Failures are also one of the patterns.
That is the reason why I play with the key levels- BOB opened in 161.10 from opening session itself it was in a pressure cooker situation. Very Hot for Bulls to handle. Going above 165 would have confirmed that bulls are interested.
Comments
KADAMBALASAHEB
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it can bounce now.... and may touch TL.....
WaveTalks
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Yes can bounce till 160-161 going above 161.60 -it will extend the bounce till 170-172 zone. There is a new update as well on Bank Baroda.