Thread by @ZeroFearTrader

Three Reasons Why #Nifty Is Due for a Correction:

1. 20 EMA and Nifty Connection
2. Fibonacci Pullbacks and correction modes
3. Metals rally in the past few months

Please retweet if you find the analysis useful and accurate ❤️
@rohit_katwal @kapildhama @gurdeeparora971

#Stocks

1. 20 EMA and Nifty:

As a thumb rule, for the past 18 years data, "Everytime Nifty starts a rally, it takes a pause at 20 EMA-Monthly support".

👉🏽 Important: I am not claiming that Nifty will fall instantly to 13000 zone tomorrow. But, 20MEMA will catch up with Nifty. Agree?

2. #Fibonacci ❤️

If you connect 2020 High and Low for the year, you would observe that markets followed the uptrend in a huge upward rally.

👉🏽 By Fib Extension rules, rallies usually take a stop/correct at 1.272 or 1.618 levels.

See chart. Best support around 13755-13664 🌟

3. Huge uptrend in #Metal stocks

👉🏽 Bull rallies usually start with #Pharma and IT stocks, accelerates wid Auto stocks and, usually ends when Metals peak out.

Gigantic rally in metal stocks in the Past few months have proved this fact.

Crucial for next 1 or 2 months 🌝

I tried my best to observe and explain you my analysis and "why odds are in favor of a healthy correction in Nifty"

If you do agree, please like and retweet and share the knowledge. Your retweet boosts my confidence ❤️🤩

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