Fibonacci levels for the week ending 21 august 09
the up wave from 13 july low of 3919 till 4th aug high of 4731 covered a total distance of 812 points. So various fibonacci levels nifty can retrace down are 38.2% till 4420, 50% till 4319 and 61.8% to as low as 4229 levels.
Confining to the present rise of nifty from 12th aug low of 4360 till the friday high of 4619, nifty has covered a distance of 259 pints. So in case of a fall, nifty may retrace to 38.2% level of 4520, 50% level of 4488 & 62% level of 4459.
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