Golden_Ratio_x_618

Golden_Ratio_x_618

Banknifty looks to have completed Wave "a" 5 wave structure and currently in wave "b" which double zig zag correction towards 0.618 fibonacci level. Short can be initiated if opens below 35533 for target 34400-300 with SL 35623 From zones near 0.618 fibonacci level 34400-300 expected to take support and bounce up as wave "c" for any of 3 targets...

Golden_Ratio_x_618

Wedge getting formed expected a pullback to 0.618 fibonacci level 15680. Just for study purpose only and should not be interpreted as a proposition to buy or sell in any securities

Golden_Ratio_x_618

Nifty went below channel a tail can be seen right below channel drawn. Expecting wedge pattern to end by Throw over above channel 15500-600 could be zones to watch out for. Dip can be expected in zig zag fashion towards 15200-100 levels. Just for study purpose only and should not be interpreted as a proposition to buy or sell in any securities.

Golden_Ratio_x_618

View posted for Educational Purpose only and should not be interpreted as a proposition to buy or sell in any securities. Wave 2 was simple zig zag so now wave 4 running in complex correction. Its consolidating since long time. Wave 3 is extended to 300%+ of wave 1 Breaking this consolidation will take 5th wave to 0.618 fibonacci level 16800

Golden_Ratio_x_618

C wave should move 2 or 2.618 fibonacci levels. 5th wave of C should be 100% or 1 fibonacci levels of Wave 1+ Wave 3. Expecting correction End near 14000-14000 for current ABC correction. 5th Wave should trade in Parallel Channel next session will clarify more about Reversal Just for study purpose only and should not be interpreted as a proposition to buy or...

Golden_Ratio_x_618

ITC previously corrected 0.618 fibonacci level after making swing high from march 2020 lows. When channel drawn on swing high and March low 0.618 fibonacci level comes at lower end of channel. Coincidence or probability of downside in future.

Golden_Ratio_x_618 Updated 

Just for study purpose only and should not be interpreted as a proposition to buy or sell in any securities. Price was thrown out of channel making 15432 top now thrown under channel but only to go up. 14300-13900 reversal zone