Long Target : 60.45 Short Target : S1 49.4
CMP is at 54.80
As fibo shows that CMP is at 0.382 , in case of Uptrend we can target R1: 60.45( which is .50 )& R2 : 65.80 ( which is .618).
In case of Downtrend , we can target S1 49.4 ( Strong Support based on previous trend) & S2 47.95( which is .236 ).
MACD is also supporting the downtrend in case of market towards downside with Divergence of '-1.35'
Its just an analysis and assumptions for knowledge purpose.
I am just a learner, following this is on our own interest & Risk.
As fibo shows that CMP is at 0.382 , in case of Uptrend we can target R1: 60.45( which is .50 )& R2 : 65.80 ( which is .618).
In case of Downtrend , we can target S1 49.4 ( Strong Support based on previous trend) & S2 47.95( which is .236 ).
MACD is also supporting the downtrend in case of market towards downside with Divergence of '-1.35'
Its just an analysis and assumptions for knowledge purpose.
I am just a learner, following this is on our own interest & Risk.
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