iCharts Discussions

[rahilali2010]

HI EVERY ONE

NIFTY @ 76.4% RETRACEMENT LELVEL --- IS THE TREND REVERSED - THE UPTREND DIED - PLEASE REPLY - I FIRMLY BELIEVE THAT THE BEARS GONNA POUNCE HARD ON OUR MARKETS - PLEASE SHARE YOUR THOUGHTS.

REGARDS
RAHIL ALI

[astraura]

Not necessarily.

.784 and 1.27 levels are known to be best reversal points.

We do not know exact wave count on longer term perspective. I have seen similar wave count discussion some where else in the forum.

For example if you count the Fib levels from July 09, the present level is only 38.2% which is also a good reversal point.


It all depends upon the Global Market resilience in my view

Regards

Emmessen