First of all, taking lessons from history, some similar sort of pattern/retracement took place. Here, I have tried to match the fibonacci pattern that was evolved in 2008 with present pattern. In 2008, reversal was shown right at 0.6%. So, in present pattern 0.6% shows 8186. This 0.6% retracement level is very much important for future course of action. This level will be extremely crucial and will indicate the strong nature of nifty . Hope so my speculation will be bang on.
It still looping in the mid of 0.5% and 0.6% retracement level. Next 2 to 3 days is important. It will justify whether 0.6% will be respected or not.
Well well, no need to panic guys, market still above 50% retracement. Swing traders are having good fun.