pratiktech

Maruti has formed "NIKE" Pattern

NSE:MARUTI   MARUTI SUZUKI IND
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As its my personal view. I have seen that prices have made rounding bottom pattern and continuation pattern without correction can take prices higher till 1.618% Fib Retracement. If prices take correction from that prices may trade lower till 1.0% Fib Retracement. This is just for knowledge.
So what's base ? 1.68 means which price(tgt) ?
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pratiktech shahmonik14
@shahmonik14, I have seen in many charts that whenever prices breaks Rounding Bottom pattern and moves higher without correction, it "MOSTLY" stays nearly 1.618 Fib Retracement before moving further. and if prices corrects from that peak it corrects till 1.0 Fib Retracement levels. Its not for trading perpose. One of our fellow research was laughing so i just publish such pattern which has formed recently.
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