NSE:BPCL Daily chart. C wave seems to be touching 61.8% Retrace of Fibo. If green candle at this level & stock crosses above 530 on daily candle closing basis it may touch 580 by December 10. Stop below C level = 490. Go long only if long bullish candle at this level. If C level breaks, Trade level becomes invalidated. (bcz 78.6% retrace is not trustworthy) ..
NSE:NIFTY Nifty Spot currently trading @ good support zone. A: 61.8% Retrace of Fibo (Drawn from right to left) B: Gap up level. C: Previously double top level.. So watch how Nifty trades at 180/220 zone. Price action is the key. Not predicting anything here. It should show some hesitancy @ current support level before making its mind.
NSE:CNX500 Monthly Chart: Nifty 500 may touch 161.8% of Fibo = 9500 or it may just reverse from current "D" zone of AB=CD. Price action (Candlestick pattern etc) to be watched closely. First support 7500. Next resistance (200% Fibo Extension) @ 10800. This level comes to play only if Nifty 500 crosses 9500 & holds for a month.