NIFTY 500, May reverse from 161.8% Fibo Extension (9500)

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CNX500 Monthly Chart: Nifty 500 may touch 161.8% of Fibo = 9500 or it may just reverse from current "D" zone of AB=CD. Price action (Candlestick pattern etc) to be watched closely. First support 7500. Next resistance (200% Fibo Extension) @ 10800. This level comes to play only if Nifty 500 crosses 9500 & holds for a month.