Next target of Nifty at 11217
Pre-open Outlook(28-02-2020)
As most Asian markets are more than 2% down after more than 4% negative closing of most US Indices therefore crashing like situation has been developed in all the Global markets hence gap down opening will be seen in Indian markets also.
50.0% Fibonacci Retracement levels of Wave-5(10004-12430) on Nifty is at 11217 and technically this level should be watched for next target of on going correction after Long Term Trend turning down confirnation because forceful break down of its decider 200-Day SMA(today at 11687.60) will be seen after huge gap down opening of Indian markets today.