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Beauty of Fib. Retracement on NIFTY

This pullback can push price 9066 up to easily.
At a,b and c of 50% retrecement zone from where price started to move downward.

Value area with 3 control lines has plotted of parallel channel.

  • The control C1 and C2 is stronger than C3.
  • Value area is predicted by price and control price. There is more chance to continue to fall.

Nifty is follwing weekly channel since long 2005 year

Target achieved Fib Retracement:

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