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Nifty on Fibonacci

We will study the Nifty movement with the help of Fibonacci numbers. It’s one of the moves important and powerful indicators that will help us to arrive at the Targets for the reversal trend. It’s drawn by arriving at the top and bottom of the trend and it’s drawn to arrive at the next set of support and resistance. The higher the Time Frame, the better the results. Here we have taken the Daily charts to draw the Fibonacci Numbers. The drawing remains the same until we get a new high or new low by Nifty. Numbers 38.2% and 61.8% are considered very crucial in the Fibonacci series.

Nifty Analysis :

Let’s study the Nifty Analysis with the help of Fibonacci Analysis. We have drawn the Fibo on the recent Swing High and Swing Low. Data has been taken from the 14th of May 2021 till the 28th of June 2021. This Fibo is valid only until the high of 15915 is not Broken. This Fibo is drawn considering the reversal made since the last two days of June. Nifty made a new LifeTime high on the 28th of June and showing a reversal pattern thereon. If the High gets broken during the Month, then the below Numbers will get active and the new Targets can be easily fetched with the below Image.