It's time to be careful in Nifty 50 as the index has reached near to the upper edge of fibonacci channel. If Nifty breaks out the channel this time, very sooon its going to create new ATH.
Buy XAUUSD for target upto 1737 as per predicted fibonacci level
As apparent from Nifty "Daily" chart, Nifty is moving towards upper resistance (Yellow Line). Time to be careful.
Banknifty downtrend fibonacci channel is explained on chart. Banknifty is currentyl on top of the downtrend channel. More downfall is expected in coming days.
As per fibonnaci channel analysis, Nifty's journey for long may begin from Monday 18.04.2022. This channel is valid until bottom line (white colour) remains intact. Sharing for educational purpose. Trade at your own risk.
As apparent from trend, market is strictly acting on "daily" fibonacci levels. Educational Idea. Trade at your own risk.
banknifty levles calculated on the basis of gann/fibonacci are provided on chart. This is my personal view for educational purpose.
It appears that nifty uptrend channel has started. Targets are marked on chart
Nifty is currently at 50% of its previous swing. If the top of parallel channel is broken then nifty may go upto 17400. If it breaks its todays low, then it may go upto 16700 which is bottom of parallel channel. Fibonnacii levels are marked.
Market is strictly following trendline since Friday. If this trendline continues then tomorrow market may work in the range of 17076 to 16756. Sharing idea for educational purpose only.
These are educational ideas (targets) for hindpetro on 27-10-2021 if it crosses resistance marked with yellow line. Sharing for educational purpose.