20 years Fibonacci based analysis

NIFTY

In previous years nifty has expanded a lot very fast.
it can be seen in chart that nifty has increased by 145%(approx.) from March 2020 till October 2021, after which a down trend was observed on monthly chart.

By taking previous years in account, it can be concluded that Nifty showed a retracement every time. and it was about 50% on an average.

Currently Nifty is going through a retracement since November 2021 on monthly chart.

So how long will the retracement continues?

this is the only question arising in my mind.

will it give a minimum of 38% retracement? or more? or less? god knows.

comment your opinion below.


This study is not a trade recommendation, do your own study and research before getting into any trade.