The 200 MA at 11130.
A "Consequence zone" of all 3 fib. retracement at 11502 nearby.
From the Fib. Retracement(i) and (ii), we detected 3rd Fib. Retracemet at 11200. (This is expected bottom OR revesal level).
Point 1) Look at Fib. Retracement (ii) at start point which is exact at 61.8% of Fib. Retracement.
Point 2) Now, loot at the Fib. Retracement (iii)...
Lets have a look at the analysis -->
1> EW analysis -->
Counting from low 1095 on 15th May 2019 till 1304.80 on 11th June 2019 as an impulse move, and from the same high till recent low at 1195.55 as an corrective ZZ move, we might be in either impulse move upside or B of the same corrective more or x of same corrective move. The most biased and preferred count...
Reliance has taken the support at the demand zone and made reversal candle.
Its in 3-Inside Bar range hence Buy would trigger above 1279 for 1299 and 1319 and 1339 with SL 1245.8
This may help Nifty to take to 11475-11500 level which would be a trap zone