- Day closing yesterday was above day low ema.
- If nifty close below 5 day low ema again we may test the 200 dma and break it.
- Fibonacci levels for the rise from 5350 to the recent high shows price breaking the golden ratio and is in between 78.6% and the golden ratio.
- If price does not go above 61.8% soon nifty will test 5560 levels which is the 78.6%
- Having said that stochastic and MACD in daily time frame is hinting of a reversal any time.
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