NIFTY retracement to FIB Golden Zone?

Nov 18, 2023

NIFTY on the 1h time frame can be seen making higher highs and lows, clearly showing an uptrend. The market has recently rejected of the key zone between 19905-19842. Fibonacci retracement from the recent swing low to high indicates that the market is steadily heading towards the 'golden zones' (ie. The 38.2-61.8% zone). We can expect the market to continue its uptrend once it tests this zone. Furthermore, the market also has key support zones at
19527- 19586.