kanishkkunal

NIFTY Fibonacci retracement levels

NSE:NIFTY   Nifty 50 Index
Fibonacci retracement levels indicate where support is likely to occur.
Here as per the rally taking place from recent bottom, 23.6% retracement can happen till 13600 which is also the bottom created before the Budget day and hence will act as strong support.
Below that, 38.2% level is 12430, which also happens to be the previous top, this again will act as very strong support during retracements.

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The band from 0.5 to 0.6 looks will bring ocean of opportunities
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