NSE:NIFTY   Index of the 50 listed India companies
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Nifty             took good support at 61.8% of the retrace recent rally from 7700 to 8280 levels, and moving up, this up side move may arrest at 8150 which is 61.8% of retrace of the fall from 8285 to 7930 levels.
This analysis looks to make more sense to me.. Demand Level + Fib Level @ 61.8 pushed the price up. 8150 - 8160 should be a potential shorting place ..
Thanx for this chart Rajendra
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