Fib. Retracement and Channel, detected bottom of NIFTY

NSE:NIFTY   Nifty 50 Index
  • The 200 MA at 11130.
  • A "Consequence zone" of all 3 fib. retracement at 11502 nearby.
  • From the Fib. Retracement(i) and (ii), we detected 3rd Fib. Retracemet at 11200. (This is expected bottom OR revesal level).

Point 1) Look at Fib. Retracement (ii) at start point which is exact at 61.8% of Fib. Retracement.

Point 2) Now, loot at the Fib. Retracement ( iii ) closely from start point to 32.8% "the first leg" and pull back was toward the exact 61.8%.

Drawing of Fib. Retracement is important, therefore Point 1) and 2) is proof of true drawing.

Superb Charting! exactly reversed from the bottom line...
@senthilmyl, thank you. actually its FIB. Retracement.
syedash.89 Kinnari_Prajapati
@Kinnari_Prajapati, hey mam, cen we go long in nifty now dear if we go long what should we keep the SL dear...
most of the tops and bottoms are not coming in the channel,i disagree.
@drkmgiri, You can check my historical post, almost all channel has tops and bottoms from the channel.
pa1patel Kinnari_Prajapati
@Kinnari_Prajapati, kya nifty mai harmonic pattent hai
good work copy and paste keep it up.moneymunch rocks
Kinnari_Prajapati ankit_prajapati
@ankit_prajapati, cheers of work.
I think Nifty should be touched this level or reacting some corrective move 11192-11140 good risk to reward...... for the long side. good analysis mam always super.
+2 Reply
Thank you mam.
+1 Reply
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