| FIBO. RETRACEMENT TABLE | ||||||||
| From | To | Fall/ Rise | 0.00236 | 0.38 | 0.5 | 0.00618 | 0.00736 | 0.008 |
| 5449 | 5216 | 233 | 5270.988 | 5304.54 | 5332.5 | 5360.041 | 5387.488 | 5402.4 |
Channel :
We have broken the downtrending channel cearly and have been now in upward channel ,
this is a very steep channel , will have to wait for some more time to draw it ,
Retracement s :
As we see , 5360 is 61.8 % of last fall from 5448 to 5216. we have done 5366 on sat.
and 5402 is 80% , So clearly anything above 5402 is clear strength.
And one trade that I can see presently is short close to 5387 with 5403 as SL .
Ew wise from 5216 we have done 5 waves ..as
Hour TA has reached OB region with last 2 days action .
50 and 20 MA are at the same value , they have been giving FF and FR .This time is it fast fall ? Only time will tell .
My inference is ,
We are close to completion of 5 waves , so a correction is on cards . Gap may act as support if there is any correction . Breaking 5309 would be the first sign . If not then 5402 must be broken for further upsides .
Day TF has one strong possibility as
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