- All falls started between Golden ratio and 78.6%
- For now Nifty bulls fighting with the golden ratio. Spike above this level will extend this up move. If price repeats previous price action Nifty may be entering the selling zone again. After entering this level one may look for weakness in price action for shorting.
- If price stays above 78.6% then we may be seeing a bigger reversal. Closing above this level should caution bears.
@San,
ReplyDeleteThis is one fantastic post! Kudos!
As discussed with Satheesh today morning, a study of mine, not EW, giving me targets of 5170/5202, which also nicely coincides with her 5172. And now you stamp the seal of authority. Looks good. :D
@Fire
ReplyDeleteThanks for the comment.
REALLY GREAT OBSERVATION SIR ONE OF THE BEST ONE I HAVE SEEN
ReplyDelete