Some time ago Satya had remarked in the chat room that perhaps one should begin to revisit the old pages of this thread, to re-sync with the levels again.
I did so and found that there was a lot of contest around the current levels back then.
If anyone wants to travel back in time to these levels again, a good point to go to would be this, and perhaps a little to the back of this as well. (The virtue of documentation, eh Pankaj?) :
http://www.traderji.com/equities/3066-nifty-fifty-58.html
From those pages one finds the mention of
2584 being one of the
Fibonacci numbers.
This interestingly coincides with the 50% retracement discussed here yesterday with Traderji.
Further up
2661 and
2652 have been mentioned as important conflict zones.
2737 comes up as a level above which the Nifty was to enter a higher orbit back then.
2799 had been mentioned as a major turning point, an area that first gave rise to the centrifugal force theory of the markets!!
So at this point I am looking at this entire area where much action will take place, very likely, in the times ahead.
Wouldnt it be a great sight if that Fibonacci level gives us a double bottom!
Levels to the up, and these are long range levels:
2727-2732-2737-2742-2747-2752-2457-2762-2767-2772-2777.
Down below, also long term levels:
2722-2717-2712-2707-2702-2697-2688-2679-2670-2661.