Banknfty spot FIbo levels to watch

16 thg 10, 2023

Please see the fibo drawing. Mkt has taken resistance at 100% levels forming a double top. Now very high chance that mkt can break the 38.2% line if it comes down which is at 43406.5. All the levels are clear in the drawing on the downside. This is for a distant view . pls keep an eye for all the levels. The first tgt is 43406.5 after which we need to watch the price action and then decide as to how the mkt will move. If we do close below that level and a confirmation is formed we are then clearly heading to other fibo levels as indicated. Also pls note there is a gap lying at (40055-40180) which needs to be filled.