The number sequence of Leonardo Fibonacci has an uncanny ability to influence financial markets. Lokeshwarri S K offers a peek into this wonderland

To a casual observer, the stock market would appear to be a blur of activity with stock prices reacting randomly to news flow and to the sudden bursts of emotion that seem to grip traders every now and then. It is probably for this reason that the ‘random walk hypothesis’, first proposed by the French broker Jules Regnault in 1863 and later popularised by Burton Malkeil and Eugene Fama, found a...