Welcome everyone,
If you look at the chart you can observe that right now Nifty is running at its crucial Fibonacci levels. Yesterday it took a "U" turn from 19600 and then recovered well but gave immediately. The scenario suggests that if this breaks 19600 levels then it can march towards 19459. So I am taking the target range as 19500 to 19450.
Unless it goes above 19740, no bounce is safe. I have already anticipated earlier on the failure at 20200+, not to expect on the bullish side for the next month.
Happy trading
