Nifty Fibo ChartĪs discussed in last week analysis there is a good probability of bounce back near 78.6% retracement and Nifty did give a bounce back from 4780, quiet near to pur Fibo levels of 4767.
Divergences are always a mystery to play with but always remember if we get divergences in Higher Time frame more stronger will be the effect of divergences. Breakout comes on Daily chart with a close above 4960, and once it closes above 4960 quick rally can be seen towards 2.ĭaily Indicators have started showing positive divergences, but we need a price confirmation with a move above 4960.
