Description
⋅ Since the rise from 9455 to 10137 levels Fibonacci levels have played a vital role is identifying key support & resistance levels...
Levels------------------------------------ Fib retracement-------------------------- Fib Level
- closing low at 9710----------------- 61.8% of 9448-10137 -----------------------9711
- high of 9947 --------------------------61.8% of 10137-9685 ----------------------9965
-low of 9740 ---------------------------76.40% of 9685-9947 -----------------------9747
Nifty is at imp Fib zone around 9867-9898 zone...
We are also seeing range contraction and triangle formation....
Whether Nifty upside gets capped @ Fib levels or we get a triangle breakout... It will be interesting to see Nifty price behavior tomorrow.
Take care & safe trading...!11