A deep dive into how Fibonacci levels behave in Indian indices and stocks — Nifty, Bank Nifty, and major sectors. Challenges myths and encourages data-backed use of Fib.
Outline:
- Intro: The mystique of Fibonacci
- Case study: Nifty’s response to 61.8% retracements
- Real charts: When it works, when it doesn’t
- Why traders misuse Fibonacci (confirmation bias)
- How to test Fib levels on your own
- Conclusion: Use Fibonacci as a tool, not a rule