manavtechresearch

NIFTY FIBONACCI STUDY AND ANALYSIS

NSE:NIFTY   Nifty 50 Index
FIBONACCI RETRACEMENT STUDY
CRUCIAL LEVELS OF FIBO:-61.8% (GOLDEN)
:-50% (HALF-WAY POINT)
ANALYSIS:
2) NIFTY MANAGED TO BOUNCE BACK FROM THE
HALF-WAY POINT
1)IT WOULD HAVE BEEN GREAT IF THE BOUNCE WAS
FROM THE 61.8% MARK AS THE 200-DMA IS AT THE
SAME POINT.
3)WEEKLY CHART SHOWS INDEX FORMED A DRAGON-FLY DOJI .
4)BOUNCED FROM ITS 23.6% FIBO LEVELS
5)MANAGED TO BOUNCE FROM-200 DMA
CONCLUSION
-INDEX WILL FIND IT HARD TO BREAK ABOVE 10730
-DUE TO HEAVY CALL WRITING @10700 LEVES
-IF BREAKS THEN THERE WILL BE SERIOUS SHORT COVERING WHICH WILL PROPEL THE INDEX TO TEST 10815
NIFTY WEEKLY STUDY
https://invst.ly/7k8tb

TRADERSMOJO TELEGRAM CHANNEL
*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
https://t.me/tradersmojo
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.