Nifty: FIb Analysis -- Play with numbers
Updated
I am not a bear..I don't want market to go down BUT it is what it is and we have to follow the trend AND the current trend is down..right? So whatever targets we project will be on the downside.
The 50% retracement has been an important reversal area in the past corrections.. see my older posts, so we can assume that it can act as a solid support in this downfall too. Not only that we have a number of other fib confluences near that level (see chart) so that could add some extra cushions to support the markets.
For investors and traders the value zone represented in the chart may be an important belt to pump money into the markets.
Hope this analysis would help investors and traders in prudent decision making.
Regards
Bravetotrade
The 50% retracement has been an important reversal area in the past corrections.. see my older posts, so we can assume that it can act as a solid support in this downfall too. Not only that we have a number of other fib confluences near that level (see chart) so that could add some extra cushions to support the markets.
For investors and traders the value zone represented in the chart may be an important belt to pump money into the markets.
Hope this analysis would help investors and traders in prudent decision making.
Regards
Bravetotrade
Comment
The value zone mentioned in the past is purely based on technical analysis, it has nothing to do with fundamental value.Comment
Comment
Market sentiment will be reassessed after a sustained move beyond 10650.
JJ Singh
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Trader/Investor
Moderator, TradingView
🚀Join t.me/jjsingh_2020 ,
A Free Education channel
🚀Tweet at twitter.com/JaySingh_2020
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