All stop loss hits All in Cash

All stop loss hits All in Cash you should be if you had stop losses.

So looking for clues I turn to Fibbonacci


In Nifty chart there are 2 scenario emerging.
One is the bull rally that ended on 8 Jan 2008 (6288 High) started
on 25 april 2003 when Nifty was 924 (I feel this is more convincing to ME)
and
Second thought is that rally started on 17 May 2004 when Nifty was 1338.

Now with 924 as start of rally we get following support levels can be arrived at
Delta = 6288 - 924 = 5364
High - 0.618 Delta = 6288 - (0.618 x 5364) = 2973 (Bot most level)
High - 0.5 Delta = 6288 - (0.5 x 5364) = 3606 (Mid level)
High - 0.382 Delta = 6288 - (0.328 x 5364) = 4239 (Top level)

While considering 1388 as start of rally we get
3260 (Bot most level)
3838 (Mid level)
4416 (Top level)