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AbNamjoshi

Chart of the week. Nifty.

Nifty 50 Index (NSE:NIFTY)  
AbNamjoshi  
NSE:NIFTY   Nifty 50 Index
Fibonacci Chart Patterns Technical Indicators
3
0
fibonacci chartpattern indicator
Last week nifty has given breakout again. NIFTY gained massive 3.5% in a week and made a big gap up candle on its weekly chart. However, if we draw a Fibo from the recent correction; its trading at 1.6 levels. I therefore think that NIFTY should either take resistance or consolidate at this level for few months in order to start an upward journey again.

Next target for NIFTY would be 22,000.
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