BankNifty Retracement from Low of 23Sept2020 & 16Oct2020
Please find the BankNifty Re-tracement from Low of 23Sept2020 & 16Oct2020 to Top made at 32,986 in Jan.2021 using Fibo Re-tracement levels
studied with major support & Resistance levels faced since Jun2020 onward on daily time frame. Using Sept.2020 study Bank nifty will find
support at 0.382 levels ie.28,207 otherwise will stop at 0.618 levels ie 25254 on larger frame.
If we use 16Oct2020 levels from where this Rally in BankNifty started & made Top in Jan.2021 at 32,985 0.618 Re-tracement comes to 29467 & 0.50 comes to 28362 and 0.382 comes at 27256 using shorter time frame.
On
studied with major support & Resistance levels faced since Jun2020 onward on daily time frame. Using Sept.2020 study Bank nifty will find
support at 0.382 levels ie.28,207 otherwise will stop at 0.618 levels ie 25254 on larger frame.
If we use 16Oct2020 levels from where this Rally in BankNifty started & made Top in Jan.2021 at 32,985 0.618 Re-tracement comes to 29467 & 0.50 comes to 28362 and 0.382 comes at 27256 using shorter time frame.
On
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