There are 2 possibilities at this stage, if we are still in bearish mode then the 2nd Fib is still active and having retrenched around 5740 should take NIFTY spot to 5100 levels, otherwise we wait patiently for a successful retrenchment for the bullish Fib.
Below is the Fib for the recent rise -
Code:
[FONT="Courier New"]
[B][U]Fib Name: Fib Bullish
price 1 price 2 diff
[/U][/B]5195 5740 545
[U][B]Fib Retracement Pts Actual Value[/B][/U]
23.60% 128.62 5611.38
38.20% 208.19 5531.81
50% 272.5 5467.50
61.80% 336.81 5403.19
78.60% 428.37 5311.63
[/FONT]
Below is the Fib for the latest fall to 5195 levels -
Code:
[FONT="Courier New"]
[B][U]Fib Name: Fib Bearish
[/U][/B][B][U]price 1 price 2 diff
[/U][/B]5944 5195 -749
[B][U]Fib Retracement Pts Actual Value
[/U][/B]23.60% -176.764 5371.76
38.20% -286.118 5481.12
50% -374.5 5569.50
61.80% -462.882 5657.88
[B]78.60% -588.714 5783.71 [/B]
[/FONT]