We have started counting the major bull run after the sub prime mortgage crisis. First major bottom was posted in Oct 08 and rally continued till Nov 2010. On the completion of subsequent fibonacci time series,index corrected twice in the next month or in 2nd month. Index first posted new high in next or 2nd month of completion of fibonacci time zone and then started correcting. First and second correction brought fall of 1000 and 2300 points in Nifty
. Last fibonacci time zone completed in Mar 19 month but Index posted new high in this month. We are due for time wise correction in Nifty
and prices are expected to fall following history.
Traders are advised to hold all long position with stop loss of major support or book profit to reenter at later stage . Stop loss for short seller would be 10870 (closing).