So here i removed all the noises by using 1 Week Candles, as you can see after the almost 40% decline from the highs of Nifty, it was able to bounce back( retrace ) almost upto the 0.5 level 9889.
Now as we already know that the Nifty and all share markets are in lower trend (Use 200 MA to confirm) so it again will start moving down after the price correction which was done up till 1 May, so the question and challenge for us is to know till what level it will again crash so again use Fibonacci Retracement and we will see the next newer low will be somewhere around 6050. So this is how we confirm the levels.
Now the bigger question what time will the target be achieved , here i used Fibonacci Cycle to determine when the trend changes and easily we can see that in the first week of June again the short term trend will change.
Now as we already know that the Nifty and all share markets are in lower trend (Use 200 MA to confirm) so it again will start moving down after the price correction which was done up till 1 May, so the question and challenge for us is to know till what level it will again crash so again use Fibonacci Retracement and we will see the next newer low will be somewhere around 6050. So this is how we confirm the levels.
Now the bigger question what time will the target be achieved , here i used Fibonacci Cycle to determine when the trend changes and easily we can see that in the first week of June again the short term trend will change.