In the last updatation for the nifty, I have written with the channel that “I am not bullish below 8130”. Same day nifty was crossed this level and fired up to 9038. This morning I have created NIFTY and HINDUNILVR.
The mainly four Fib. Retracement are applied in different years.
- Confluence zone at 9647.
- 38.2 retracement level is at 9395
- previous resistance and 61.8% retracement level at 9067.
The question is how to understand and use these levels?
Answer; There is always pullback whether there is a stock or market. If there is normal good new, then pullback easy can be 38.2% retracement. Though the confluence zone is the memory of investors, here is 9647 attract to investors. Above all given levels are actionable for traders and investors. I would like to add GAP theory on with retracement in another chart.
Control price attraction is the easy target 2083 nearby for short-sellers.
Best short-selling points
- First @2221
- Second @2255
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