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Fibonacci

NIFTY FIBO AND WAVE CHART EXPRESSING VIEW ON WEEKLY CHARTNOTE:LEARNING CHARTING FOR THE VIEWERS PLEASE FEEL FREE TO EXPRESS YOUR OPINION THIS CHART IDEA IS SHARED TO SHOW MY VIEWERS HOW THE NIFTY ACCORDING TO ME HAS PANNED OUT ON WEEKY CHARTS WITH REFERENCE TO FIBO LEVELS AND ELLIOT WAVE WITH FRESH WAVES CONSIDERING THIS WAVE IS VISIBLE . WAVE 1:- INDEX MOVES FROM 6825 TO 8968 FOLLOWED BY WAVE 2: CORRECTION FROM 8968 TO 7896 WHICH IS A PERFECT 50% RETRACEMENT LEVEL WAVE 3:- FOLLOWED BY A LARGE THIRD WAVE WHICH IS NORMAL ONLY THE RULE SAYS "WAVE THIRD CANNOT BE THE SMALLEST ONE" WAVE COUNT:-7896 TO 11171 WAVE 4:- WAVE 2 WAS A DEEP CORRECTION WAVE WHICH WAS FOLLOWED WITH A SHALLOW CORRECTIVE WAVE 4 OF 38.2% RETRACEMENT LEVEL. IT IS ALSO THE RECENT WHICH WAS FOUND AFTER THE ELCETION DAY AND NOTICE THAT 10930 WAS THE INTRA-DAY HIGH OF KARNATAKA ELECTION WHICH CLOSED AT AROUND 10830 LEVELS WAVE 5:- HAS TRUNCATED EARLY HAS LOST MOMENTUM CORRECTION WAVE "A":-??????? ACCORDING TO ME IS YET TO COMPLETE BECAUSE SEEING AT THE MACD INDICATOR ALONE THE INDEX WAS LOST POSITIVE MOMENTUM AND HAS GIVEN A NEGATIVE CROSS OVER WITH THE FIRST NEGATIVE MOMENTUM BAR. THAT IS IS FOR NOW WE SHALL STUDY IT EVEN FURTHER TO SEE THE RESULTS
NSE:NIFTYEducation
by manavtechresearch