Dear members,
Find pivot & Fib levels plotted in Nifty charts at the following links: http://www.savefile.com/files/6109015 &
http://www.savefile.com/files/2991320
showing possible resistance by Pivot & fibonacci Ext. levels.
Kindly download the JPEG charts before reading the following.
Pivot levels ( considering Weekly H,L & C from Sept 1994 & Jan 1997) in Nifty 2000 Shows that nifty toped at mid point of R2 & R3. And also note that Fib Ext. levels (considering weekly H & L from Sept 1994 & Jan 1997) shows that Fib. & Pivot levels have been close by & fibonacci Ext. is to the extent of 162%
Now compare Nifty 2000 chart with Nifty2005 chart (Considering H, L, & C from the all time from 2000 to the low following the crash.) they show similarities ie. Fib ext level 162% & pivot level mR2 (ie. mid point of R2 & R3) are close by.
In Nifty2005 chart i have also plotted Fib ext. levels for Hi & Lo of year 2004. Fib. 162% again meets at the same levels.
Regards,
4candles
[note: this is not an intention to predict the market nor to scare any body, the market will take its own course. I have only posted what i have seen in the charts, so that we can be cautious untill a clear trend emerges]
Find pivot & Fib levels plotted in Nifty charts at the following links: http://www.savefile.com/files/6109015 &
http://www.savefile.com/files/2991320
showing possible resistance by Pivot & fibonacci Ext. levels.
Kindly download the JPEG charts before reading the following.
Pivot levels ( considering Weekly H,L & C from Sept 1994 & Jan 1997) in Nifty 2000 Shows that nifty toped at mid point of R2 & R3. And also note that Fib Ext. levels (considering weekly H & L from Sept 1994 & Jan 1997) shows that Fib. & Pivot levels have been close by & fibonacci Ext. is to the extent of 162%
Now compare Nifty 2000 chart with Nifty2005 chart (Considering H, L, & C from the all time from 2000 to the low following the crash.) they show similarities ie. Fib ext level 162% & pivot level mR2 (ie. mid point of R2 & R3) are close by.
In Nifty2005 chart i have also plotted Fib ext. levels for Hi & Lo of year 2004. Fib. 162% again meets at the same levels.
Regards,
4candles
[note: this is not an intention to predict the market nor to scare any body, the market will take its own course. I have only posted what i have seen in the charts, so that we can be cautious untill a clear trend emerges]