Nifty 50 IndexUpdated NIFTY-SELL
We are in Expended Flat -rule is Wave B retraces 1.27 to 1.382 area of A or 1.382 to 1.618 zone rarely more than 2 of wave A .
Wave C usually extend to 1.618 of A or it retraces 1.618 of wave A sometimes when C wave is extended it goes to 2.618 of wave A size.
calculation B is 1017 and A is 779 approx i.e B wave is 1.30 % of A.
Now C wave calculation is simple 779x 1.618 =1260
add 1260 to B wave comes to 21510 so first support comes here and if it extends then 2039.( i.e 2.618 % of wave A ) THEN 22770-2039 =20731
Wave C usually extend to 1.618 of A or it retraces 1.618 of wave A sometimes when C wave is extended it goes to 2.618 of wave A size.
calculation B is 1017 and A is 779 approx i.e B wave is 1.30 % of A.
Now C wave calculation is simple 779x 1.618 =1260
add 1260 to B wave comes to 21510 so first support comes here and if it extends then 2039.( i.e 2.618 % of wave A ) THEN 22770-2039 =20731
Note
fibonnaci measurements are considered as guidelines and they help us to expect the next movement
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.