#nifty50 FIB 0.236 retracement level broken, 14415 next
Nifty has broken fibonacci retracement level of 16011 is broken and nifty closed with a Doji candle. VIX again shot to 29.33 indicating high volatility and increased uncertainty. PCR is 0.36 and contra indicates a strong pullback. Any positive news could trigger a breakout. However the charts are now in very weak zone and should continue to trend towards next fib retracement level of 14415 ....yes there is much more pain in store as currency, OIL will have a large lasting impact on GDP growth prospects. CPR is very narrow and expect a trending market. What do you think?
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