Nifty50 Crashes from Highs – Watch These Fibonacci Zones This Week ⚠📉
Nifty50 recently broke down from the 23,870 highs and is now trading in a corrective phase. I’ve plotted the Fibonacci retracement zones using AutoFibGauge on the 4H chart to identify the key support levels for this week.
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Updated Fibonacci Levels:
• 23,538 – 23.6% Fib
• 23,134 – 38.2% Fib (Being tested now)
• 22,820 – 50% retracement
• 22,506 – 61.8% Golden Zone 🟡
• 21,466 – 100% retracement (March low)
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Outlook:
• As long as Nifty holds above 23,134, bulls may attempt a bounce.
• If it breaks below this zone, we could see a deeper drop toward 22,820 – 22,506, which is a high-probability bounce zone for swing traders.
• If 22,506 fails, then 21,466 becomes the key support to watch.
Using QMA helps track trend shifts within these levels — currently, momentum is bearish, so I’m watching the Golden Pocket closely for reaction.
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Tap LIKE ❤ & FOLLOW ➕ for weekly Nifty outlooks and real strategy ideas.
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#Nifty50 #Nifty #Fibonacci #AutoFibGauge #QMA #PriceAction #Correction #TechnicalAnalysis #IndexTrading #StockMarketIndia
Nifty50 recently broke down from the 23,870 highs and is now trading in a corrective phase. I’ve plotted the Fibonacci retracement zones using AutoFibGauge on the 4H chart to identify the key support levels for this week.
⸻
Updated Fibonacci Levels:
• 23,538 – 23.6% Fib
• 23,134 – 38.2% Fib (Being tested now)
• 22,820 – 50% retracement
• 22,506 – 61.8% Golden Zone 🟡
• 21,466 – 100% retracement (March low)
⸻
Outlook:
• As long as Nifty holds above 23,134, bulls may attempt a bounce.
• If it breaks below this zone, we could see a deeper drop toward 22,820 – 22,506, which is a high-probability bounce zone for swing traders.
• If 22,506 fails, then 21,466 becomes the key support to watch.
Using QMA helps track trend shifts within these levels — currently, momentum is bearish, so I’m watching the Golden Pocket closely for reaction.
⸻
Tap LIKE ❤ & FOLLOW ➕ for weekly Nifty outlooks and real strategy ideas.
⸻
#Nifty50 #Nifty #Fibonacci #AutoFibGauge #QMA #PriceAction #Correction #TechnicalAnalysis #IndexTrading #StockMarketIndia
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.