The magic of Fibo - for daily traders.

i had published on 30th that nifty would be on consolidation for days to come and look how exactly the market took support yesterday at fibo support of 18485 level and bounced back. todays analysis is so simple - given the weak fii outlook on indices futures for the expiry, if yesterdays low of 18485 not respected, index will hit the next level of 18435 levels.