August 19, 2015

NIFTY Fibonacci projections hourly charts

I am assuming the fall from 8650 to 8350 is an impulse.

So the move from 8350 is a corrective one after which another impulsive move (down) should start.

Here are the Fib projections. Assuming equality, the first target is 8250 F.

And the next target is 8065 F... this is 1.618% retracement level.

Disclaimer: This post is purely for entertainment purposes and has no other meaning. 

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