Nifty Trend Analysis started in Sept2020 with Re-tracement level
1)Here I am using Nifty level of 10750 in Sept.2020 from where Nifty started major Trend & Toped out in Jan2021 at 14800 plus. Nifty 1st support should come at 13,315 and then 12062 level ( which un-likly to break) if we analysis on larger time frame.
2)Trend started since 18Dec2020 from 13124 to Top made in Jan2021 at 14,800 plus 1st support of 14,464 on 22Jan2021 already broken if we analysis on smaller time frame. 3) Using Fibbo Re-Tracement on major trend that started from 10750 levels on 28Sept2020 the following study comes in ; 0382 levels comes at 13,363 , at 0.50 levels comes to 12864 , 0.618 comes to 12365 and 0.786 comes to 11665 ( which is un-likly to come, as 12000 nifty levels it was major resistance on up-side rally started will now act as support ).
So hopefully we will test around 13310-350 nifty fut. levels(on downside if continue) confirm by both Trend line & fibbo numbers analysis and un-likely to break 1200-12050 levels.
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