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70.70% retracement is a Secret Key in Nifty.

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70.70% retracement is a Secret Key in Nifty.

Ruchirgupta2000
White Belt

Joined: 12 Jun 2014
Posts: 297

Post: #1

Posted: Tue Jan 27, 2015 8:25 pm Post subject: 70.70% retracement is a Secret Key in Nifty.

Always was many a times nifty retracing more than 61.8% but less than 78.6%... I was so dumb... and made this area my favourite only to realize after that 70.70% is a key retracement for many scrips, including nifty.

I Idea is not mine. I read it in Bryce Gilmore's Book Dynamic time and Price, where he described market with various Geometric relationships.

May be smtimes marekt will break this 70% level as but it stops at this level. and its much better ratio than 61.8% atleast for Nifty.

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