Just another perfect Nifty Fib Retracement Intraday Session
Updated
Nifty open Gap down
Negative sentiments reversed within 1st 10 minutes
I believe Majority was short in morning considering 30th January 2024 Bearish EOD NiftyReport.
That's it! Market makers always looking for liquidity and they found it in the morning itself.
Rally started from day low to retrace 0.786 Fib level since previous day high.
Chart is enough to understand the how fib retracement works and how Nifty Levels being identified with Fibonacci Retracement.
Here is the news flow to justified Nifty & global markets downturn.
1:53 PM: Saudi Arabia's decision on capacity was at least six months in the making based on uncertainty around need for additional capacity - rtrs
1:50 PM: Iran's revolutionary guards chief salami says no US threats will be left unanswered - Tasnim
Negative sentiments reversed within 1st 10 minutes
I believe Majority was short in morning considering 30th January 2024 Bearish EOD NiftyReport.
That's it! Market makers always looking for liquidity and they found it in the morning itself.
Rally started from day low to retrace 0.786 Fib level since previous day high.
Chart is enough to understand the how fib retracement works and how Nifty Levels being identified with Fibonacci Retracement.
Here is the news flow to justified Nifty & global markets downturn.
1:53 PM: Saudi Arabia's decision on capacity was at least six months in the making based on uncertainty around need for additional capacity - rtrs
1:50 PM: Iran's revolutionary guards chief salami says no US threats will be left unanswered - Tasnim
Note
Expecting a decisive either side move at 2:30 PM. Let's see what happens Breakdown or Breakout?
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