Nifty Crashes from Highs –Watch These Fibonacci Zones This Week

Nifty50 Crashes from Highs – Watch These Fibonacci Zones This Week ⚠📉

Nifty50 recently broke down from the 23,870 highs and is now trading in a corrective phase. I’ve plotted the Fibonacci retracement zones using AutoFibGauge on the 4H chart to identify the key support levels for this week.

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Updated Fibonacci Levels:
• 23,538 – 23.6% Fib
• 23,134 – 38.2% Fib (Being tested now)
• 22,820 – 50% retracement
• 22,506 – 61.8% Golden Zone 🟡
• 21,466 – 100% retracement (March low)

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Outlook:
• As long as Nifty holds above 23,134, bulls may attempt a bounce.
• If it breaks below this zone, we could see a deeper drop toward 22,820 – 22,506, which is a high-probability bounce zone for swing traders.
• If 22,506 fails, then 21,466 becomes the key support to watch.

Using QMA helps track trend shifts within these levels — currently, momentum is bearish, so I’m watching the Golden Pocket closely for reaction.

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