rahulundefined
Short

Nifty likely to retrace back to 11123 to 10950 Zone

NSE:NIFTY   Nifty 50 Index
There is a divergence between nifty and bank nifty . Similar divergence appeared in nov 2010, at that time nifty retraced back to 38% to 50% zone of it previous trend. Similar behavior is likely is current situation.
Comment: The divergence has played its part. Target is still the same 11123

Comments

are you crazy
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The wrong way to do your analysis. 😀😀
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rahulundefined GaneshMishra
@GaneshMishra, Hey Hi,

Above rational is based on Dow theory tenet that 'Averages must confirm each other'. If you apply this tenet in Indian Context then, NIfty and bank nifty are prominent indices which must confirm. Please backtest to confirm the premise.

PS: I have done the backtesting on nifty bank nifty since inception.
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You are using wrong way in retraceme. You should fine first where is the point. Do you know what history of fib retrcemeent?
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rahulundefined Kinnari_Prajapati
@Kinnari_Prajapati, Hey there are two ways to apply retracement. Traditional way and modified way. I used the traditional way of joining low and highs. Though in the second retracement software was not taking high point properly hence, I selected different point on the same level without disturbing the retracement levels.
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