Applied Fibonacci levels to July lows and August highs.
Stocks seems to have corrected 50% of its rally and taking support at 289 290 levels which is 0.5 Fibonacci level.
It also seems to be following a falling trendline . SBI can be a sell below 288 with a stoploss of 293. Target is 280.
Hold for target in few days.
Trade closed: target reached:
Target of 280 reached.