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.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.