Important fibonacci level
Chart showing ADX reached profitbooking level.
so profit booking can dragg down stocks from their recent highs to almost 38 to 50 percent of their rise.
example : Bank of india: it rallyed 220 to 350 so it can b corrected to
350-220/2= 65
so bank india can come down to
350-65= 285 ................................ same is the case with other stocks toooo and so is the case with NIFTY. so Keep 4200 put for this month with u.
and as i shown in chart observe fib levels mkt can moveup only when it crosses 4354 then 4418 then 4498 so whenever one goes long book profit at given levels .
june month will b profit booking month no doubt.
