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Friday, January 13, 2012

Update - End of Day : 13 Jan 2012 - stand off !

Nifty - End of Day Chart - 13 01 2012
The Fib61x was mentioned - couple of posts ago - as being @4868 ... Nifty closes this week at 4866 :)
See also the precision with which the Price line touches the confluence of our red channel top and Fib61x .. Bulls and Bears face off - even!
So why is Fib61x so critical .. why indeed is Fib - Fibonacci revered by Technical analysts? Well it comes naturally (pun intended) or so it seems ... here is some weekend reading..