Nifty trading in the middle of the channel.
- The channel, “Gravitating Price” which is from (1) to (7) is a magnetic price toward it.
- There’re 3 excesses already display in the chart.
In respect of excess(iii), Nifty will create excess (iv) presented which is the expected range of 10811 to 10600.
This range of excess(iv) will strongly attract Investors to buy. Caused by breakdown strategy, buying zone is already started in nifty.
For the target of pullback using Fib. Retracement, 38.2% is at 11088 and final target 11316(gravitating value) nearby of 68.8%.