Derivatives - Weekly Fibonacci Levels - Nifty, Bank Nifty - 13th April 2014 in MARKETS - Below are the weekly Fibonacci levels for Nifty and Bank Nifty for the week ended 11th April 2014. Currently, both ...
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Weekly Fibonacci Levels - Nifty, Bank Nifty - 13th April 2014

  1. 04-13-2014 08:22 PM
    rmani84
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    Weekly Fibonacci Levels - Nifty, Bank Nifty - 13th April 2014

    Below are the weekly Fibonacci levels for Nifty and Bank Nifty for the week ended 11th April 2014.

    Currently, both Nifty and Bank Nifty are in the positive zone (Above 60%). Only a break in daily closing below weekly 40% might trigger a correction.

    Nifty
    6,650 (0%)
    6,717 (40%)
    6,752 (60%)
    6,819 (100%)

    Bank Nifty
    12,439 (0%)
    12,685 (40%)
    12,809 (60%)
    13,055 (100%)

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  2. 04-15-2014 07:42 PM
    narayanarvr
    Hi Mani,

    What are these fibonacci values and how are these useful, will they be useful to long term inevstors or only for traders who want some short term gain ?
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  3. 04-15-2014 08:09 PM
    rmani84
    rmani84's Avatar






    Quote Originally Posted by narayanarvr View Post
    Hi Mani,

    What are these fibonacci values and how are these useful, will they be useful to long term inevstors or only for traders who want some short term gain ?
    Narayan, Weekly fibonacci are useful for traders alone ... Long term investors can use yearly or monthly fibonacci levels to use as a add on to fundamental analysis ...

    I am working on building a traders dashboard based on Fibonacci .... You will get more clarity, once that is in place ....
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