Nifty

Fibbonaci Levels

Nifty Fibb

Indicators

Drawing Fibonacci Levels on previous highs of 8961 and low of 7887, Nifty has achieved 1.618 level, which is 9625.

Nifty has formed a Double Top and is on the way down.

Bearish MACD indicator seen, Nifty in Overbought position

Gann Angle

Nifty Gann

Sell:-

Below 9620, Targets – 9550, 9380, 9100

Buy:-

Above 9705, Targets – 9800, 9900

Interesting Fact

Before 2008-09 recession – PE of Nifty was 28

In 2017 – PE of Nifty is between 24-25.

Time to be cautious?