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Trader3301
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INDUSINDBK 17% | 1 IRCTC 17% | 1 MARUTI 17% | 1 MTARTECH 17% | 1
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The reason behind Fibonacci retracement in stock markets
SBICARD
, 1DEducation
SBICARD: The reason behind Fibonacci retracement in stock markets

What is the reason behind Fibonacci retracement in stock markets? As a traders we all know Fibonacci that the Fibonacci ratios, i.e. 61.8%, 38.2%, and 23.6%, finds its application in stock charts. Fibonacci analysis can be applied when there is a noticeable up-move or down-move in prices. Whenever the stock moves either upwards or downwards sharply, it usually...

Maruti
MARUTI
, 1DLong
MARUTI: Maruti

Once it closes above 6856, it can easily go for 7140.

Go long
MTARTECH
, 15Long
MTARTECH: Go long

Mtar looks good above 1073.

Rejection
POLYCAB
, 15Long
POLYCAB: Rejection

Once it crosses the resistance zone go long. It has got rejection so many times.

Go long
INDUSINDBK
, 15Long
INDUSINDBK: Go long

Go long if it closes above the downtrend line.

IRCTC
IRCTC
, 15
IRCTC: IRCTC

IRCTC IN DOWNTREND GO LONG IF THE CHANNEL BREAKS.

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