AbhishekHSinghCMT

Nifty- Magical Setup of 88

NSE:NIFTY   Nifty 50 Index
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There is a magical setup of 88- why it is called 88- because it retraced prior moves 2 times to 61.8% back 2 back- so whenever you have that kind of setup -likely we see explosive move post second retracement of 61.8%- which was evident here as well.

In current case- a move from 8807 to 8733 was retraced to 8781 which was 61.8% & later move from 8781 to 8684 was retraced to 8746 which was again 61.8% & completes the magical setup- it never occurs frequently but when it occurs - be ready to fill your piggy banks.

Regards,
Abhishek H. Singh, CMT

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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How do you have Buy and sell views on the same script...
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My dear friend- financial markets never move in straight line sometimes it will move up -sometimes sideways & sometimes down- so you need to take positions depending on the direction of financial instrument- which direction it is headed.
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Red121 AbhishekHSinghCMT
Absolutely true, yet a directional bias still prevails. I am referring to 2 recommendations made by you one long and another short on 2 separate posts yet at the same price and pattern. Why not present 'if not situations' on one chart and let the price show its acceptance.
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vvv great knowlede u earn goo dkeep it on
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Welcome & let us learn together.
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