* Weekly floor pivot is 5129.05.
*20SMA of 6month, 1month, weekly, daily and even 30min chart is sloping up. (This makes me more bullish on NIFTY)
*Any correction up to 5002 (20week SMA) can be a golden dip for buying.
*5169.55 will be the first hurdle on upside.
*If in near future 5310.85 is taken out, then nifty can get the target of roughly around 5940.
*Fibonacci retracement levels of the recent correction from 5310.85 to 4675.40 are given below.
| 0.00% | 4,675.40 |
| 23.60% | 4,825.37 |
| 38.20% | 4,918.14 |
| 50% | 4,993.13 |
| 61.80% | 5,068.11 |
| 76.40% | 5,160.88 |
| 100% | 5,310.85 |
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