Nifty:1st Leg completion (850points), Retracement Leg now (D)
Updated
Nifty has made a low on 20th August (Which was GANN 120 days cycle completion and start of new cycle which can be 120/90 days)
1st Fibonacci on the list which is half seen on the Screen (only above level 1 to 1.618)
Level 0: 16410.2 Day: 20th December'21
Level 1: 16936.4 Day: 21st December'21
With these 0 & 1 levels, Nifty has completed an extension of 1.618 level at 17261.6 on 29th December'21
This marks the 1st leg completion (tentatively unless it moves upto 2.618 in next 7 days)
The 1st Leg completion at 1.618 gave us 850 points uptrend movement from the bottom.
Now we can see a downtrend Leg with movement upto 50% retracement i.e. approx 400 points movement downwards, it can be less also but ideally it should come down and make a 50% (approx 400 points) retracement of the range (850 points) formed for further upward movement.
Retracment Leg (400 points): (2nd Fibo on Screen with 1.272 extension)
The Retracment will again be in the form of a pattern similar to the 1st Fibonacci, It has given up a 1.272 retracement in downward direction on 29th December.
Level 0: 17285.95 Day: 29th December'21
Level 1: 17197.4 Day: 29th December'21
With these 0 & 1 levels, Nifty has completed an extension of 1.272 level at 17176.65 on 29th December'21 (1.272 level was 17173.3)
This setup 17285.95 to 17176.65 (109 points) can be termed as the 1st leg on the downtrend movement, we can expect a
50% retracement upto 17231.5 or
0.236 level upto 17260.15 and then start moving down further
Uptrend should be considered only above the yesterday's high.
Again target will be
Level 1.272: 17147.8
Level 1.618: 17100
Again from these levels, we can see a pullback, which will decide further course of Nifty.
Above Yesterday's high, the step will be Null & Void.
Nifty may unfold with these extensions and retracment accordingly.
Understand the cycles within the cycles, to guess the direction of Nifty.
Plan your trade, Trade your plan
disclaimer: Points may defer a bit, you can draw your own Fibo if you want to trade the moves.This details are only for educational purpose not for trading.
1st Fibonacci on the list which is half seen on the Screen (only above level 1 to 1.618)
Level 0: 16410.2 Day: 20th December'21
Level 1: 16936.4 Day: 21st December'21
With these 0 & 1 levels, Nifty has completed an extension of 1.618 level at 17261.6 on 29th December'21
This marks the 1st leg completion (tentatively unless it moves upto 2.618 in next 7 days)
The 1st Leg completion at 1.618 gave us 850 points uptrend movement from the bottom.
Now we can see a downtrend Leg with movement upto 50% retracement i.e. approx 400 points movement downwards, it can be less also but ideally it should come down and make a 50% (approx 400 points) retracement of the range (850 points) formed for further upward movement.
Retracment Leg (400 points): (2nd Fibo on Screen with 1.272 extension)
The Retracment will again be in the form of a pattern similar to the 1st Fibonacci, It has given up a 1.272 retracement in downward direction on 29th December.
Level 0: 17285.95 Day: 29th December'21
Level 1: 17197.4 Day: 29th December'21
With these 0 & 1 levels, Nifty has completed an extension of 1.272 level at 17176.65 on 29th December'21 (1.272 level was 17173.3)
This setup 17285.95 to 17176.65 (109 points) can be termed as the 1st leg on the downtrend movement, we can expect a
50% retracement upto 17231.5 or
0.236 level upto 17260.15 and then start moving down further
Uptrend should be considered only above the yesterday's high.
Again target will be
Level 1.272: 17147.8
Level 1.618: 17100
Again from these levels, we can see a pullback, which will decide further course of Nifty.
Above Yesterday's high, the step will be Null & Void.
Nifty may unfold with these extensions and retracment accordingly.
Understand the cycles within the cycles, to guess the direction of Nifty.
Plan your trade, Trade your plan
disclaimer: Points may defer a bit, you can draw your own Fibo if you want to trade the moves.This details are only for educational purpose not for trading.
Comment
Level 1: 17147.8 done in the opening session itself.Comment
now 17216 is 50% of the range formed from yesterday's top to today's lowComment
Wow, we got a 0.236 retracment from yesterday's top and today's low.Lets see, how Nifty moves from this point
Comment
Got a good bone back today.SL Hit
Comment
From GANN Day i.e. 20th December, market has movement from 16410.2 to 17943 that makes an up move of 1500 points in last 13 trading days,We can see na upmove of round 4000 points in next 6 months
i.e. from 16410 upto 20410 by 20th june 2022.
Super Bullish on the market
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