dhananjay.d.joshi

Nifty Up move Fibonacci analysis.

NSE:NIFTY   Nifty 50 Index
553 10 12
snapshot

Last time we analysed SENSEX down move and the retracement in to it. This time we are analyzing the current up move.

Observations are on chart. According to current market move we can test 8260 or 9208 soon. One thing we need to keep in mind that this is daily chart so occurrence of level testing will take some time. :-)
snapshot
black lines on the chart are possible trned turning dates for nifty, according to Astro calculations. Please dont depend on these lines for trading, instead just observe them. Trade according to your own trading plan only.
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We are near the 23% of the overall move, the 8300 to 8260 zone is 23% mark, the decider level. We may bounce from this level or from just above the level.
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This analysis holds good till date, we are in sideways move from 1st Aug 2016, the -27% and 23% both levels are yet to be touched, hope market will make a good trending move in coming weeks.

Will start publishing analysis after Diwali.

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Kshitij_008 dhananjay.d.joshi
wonderful observation!!1 mastttt!!
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Nice analysis! Perfect Fibonacci !
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Great observation!
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Thanks friends
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Really very good observation.......... thanks.....
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Excellent observation!
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thanks
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