Golden Ratio - 61.8% retracement induces Outside Day in Nifty

We have been categorically stating for last few days that the value area of 10550, being the site of Golden ratio will provide resistance and therefore even in yesterday’s letter we stated that book partial profits in long positions when the index nears 10525-10550. Our readers would be comfortably placed and they managed to exit from long positions right at the top and this gives us a lot of satisfaction. With index finally hitting our long pending target area let’s see if this is a reversal or just a pullback before prices once again start their northward journey