Nifty today broke the 20DSMA, cluster points between 5300-5400 and closed at 5281. Now we can calculate the fibo levels for possible target of NIFTY in days to come.
From
|
To
|
Fall/Rise
|
0.236%
|
0.380%
|
0.500%
|
0.618%
|
0.786%
|
|
NIFTY
|
4531
|
5628
|
1097
|
5369
|
5211
|
5080
|
4950
|
4766
|
So the next target is 5211. 5170-5220 is strong support zone. 200 D SMA is at 5171. Below this further weakness continues.
NIFTY spot SAR for 28th Feb is at 5430 & Bank Nifty at 10571.
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