NIFTY to fill the gap and hit 50% Fib level before moving down.
Short term Bullish on NIFTY. NIFTY retrace has been short of 50% Fib. S&P500 has retraced 61.2% - A typical retrace is between 50% or above. Expecting: 1. The retrace to complete 50% of the current fall. 2. Fill a higher gap from a previous retrace attempt. 3. Daily MACD remains positive.