Nifty Fibonacci Retracement

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Nifty ended the day with 1% decline after a strong rally. Today's decline wiped out and covered the last 4 days gains & candles forming a bearish engulf candlestick pattern. As per fibb retracement we can see Nifty taking support at multiple levels, which are ₹17991, ₹17770, ₹17600 and final support of fibb level 0.618 is at ₹17417. While looking at the upside, recent swing high is current resistance and 18320 is next resistance level to watch out for. Conclusively we can see sideways to bearish movement in upcoming days if index doesn't cross recent high.
註釋
Nifty closed below Fib level 0.236 now heading towards 0.382 (17,771)
Chart PatternsFibonacci RetracementNIFTYnifty50niftyanalysisniftyoutlookniftytradesetupTrend Analysis

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