Fibonacci number & NSE NIFTY

On a scrutiny of NSE Nifty since 2nd March 2008, I observed the following:
(Having assigned '1' to date 27-Oct-08 & subsequent numbers since then)

Fibonacci Date Wave Count High Low Point _Diff

1 27-Oct-08 Wv(0) 2585.30 2252.75
2 28-Oct-08 2695.95 2526.20
3 29-Oct-08 2781.25 2631.90
5 31-Oct-08 2921.35 2696.30
8 3-Nov-08 3062.05 2885.40
10 5-Nov-08 Wv(1) 3240.55 2971.00 987.80
13 8-Nov-08 0 0
21 16-Nov-08 0 0
34 29-Nov-08 0 0
55 20-Dec-08 0 0
89 23-Jan-09 2765.55 2661.65
131 6-Mar-09 Wv(2) 2628.10 2539.45 701.10
144 19-Mar-09 2822.25 2771.35
228 11-Jun-09 Wv(3) 4679.55 4586.15 2140.10
233 16-Jun-09 4537.95 4405.95
260 13-Jul-09 Wv(4) 4003.40 3918.75 760.80
359 20-Oct-09 Wv(5) 5181.95 5102.65 1263.20
373 3-Nov-09 Wv(a) 4729.85 4538.50 643.45
377 7-Nov-09 0 0
409 9-Dec-09 Wv(b) 5147.65 5090.60 609.15
421 21-Dec-09 Wv(c) 4997.85 943.95 203.70
533 12-Apr-10 Wv(d) 5382.15 5324.90 438.20
576 25-May-10 Wv(e) 4946.60 4786.45 595.70
610 28-Jun-10 5339.45 5270.75
638 26-Jul-10 i 5466.25 5409.20 679.80
674 31-Aug-10 ii 5413.90 5348.90 117.35
711 7-Oct-10 iii 6199.45 6107.50 850.55
733 29-Oct-10 iv 6032.65 5937.10 262.35
740 5-Nov-10 v 6338.50 6303.10 401.40
775 10-Dec-10 a 5865.5 5721.15 617.35
800 4-Jan-11 b 6181.05 6124.4 459.90
838 11-Feb-11 c 5319.45 5177.7 1003.35
892 6-Apr-11 x 5944.45 5868.8 766.75
941 25-May-11 a 5389.1 5328.7 615.75
855 8-Jul-11 b 5740.40 5651.05 411.70
987 10-Jul-11 0 0
1065 26-Sep-11 c 4879.80 4758.85 981.55
1068 29-Sep-11 5034.25 4906.00 275.40
1074 5-Oct-11 4827.80 4741.00 293.25
1097 28-Oct-11 5399.70 5322.80 658.70
1117 17-Nov-11 5036.80 4919.45 480.25

Significant points being made are, first, 2252.75 is a LOW made on 27th October 2008 ,and on 5th November 2010 a HIGH of 6338.5 was made and other data are just representative of the CHAOS in the security market.






ABOVE ARE BASED ON FACTS. What follows EMPIRICALLY deductions:

A. There had been a rise of 4086 points based on high-low during this period of 739 , and 3832 based on average of respective open, high, low & close. High of 6338 is 2.81 times the low of 2253..

B. RETRACEMENTS to the extent of 38.2 % of the "4086" or '3832' result in NIFTY being in the range of 4778 to 4874 ; recent lows of 4758, 4741 or 4919 are AROUND these range

C. On 1196th day (on retracement of 61.8% period wise - a Fibonacci NEXT number) , i.e., 4-Feb-12 , the Nifty may be around 4400/4500 (corresponding to 50 % Retracement) in the worst scenerio.


Finally, NSE Nifty had consolidated around 4700 Lebels (marked in 'oval' in the weekly chart) during the past years