Where is the stock market heading

Where is the stock market heading? - Part-2 - Fibonacci Retracements

Stock markets across the globe are registering a raging recovery and we as investors are facing a tough choice of whether to participate in the rally or not. In part-1 we covered why the rally feels superficial as things have not changed fundamentally in the past 2 months. We also looked at historical events to understand how the market reacts in accordance with The Dow Theory and the cyclic nature of the markets. We entered a Bear Market cycle when the index fell nearly 39% from all time high. Based on history, no bear market has ended in just 1-2 months and generally lasts at least an year. In part-2 we will apply Fibonacci Retracements to historical data as well as the current NIFTY charts to see if there are any important price zones to be cautious about.

Source  :- https://www.getfinsight.com/post/where-is-the-stock-market-heading-part-2-fibonacci-retracements