1. One can accurately predict the trend of stock market with the Fibonacci numbers and for that we can consider recent top and bottom of a trend (up or down). One can make use of Fibonacci retracements to generate targets for rallies and corrections.

2. The formmula for finding this data is as stated below:

UP targets = Support + X *(Resistance-Support)

DOWN targets = Resistance - X *(Resistance-Support)

Where X equals 0.382 or 0.5 or 0.618 or 1.618 or 2.618

3. However one need not undertake the laborious calculations as I have made a Pivot Calculator which performs the said task mechanically.

4. One will find its usage even in Elliot waves as all waves (impulse or corrective) are related to each other by Fibonacci ratios. One will have to notice this fact that 5 impulse waves (1-2-3-4-5) and 3 correctives (A-B-C) are also Fibonacci numbers.

5. By using Fibonacci numbers one will find that any correction is generally limited to 50% or 61.8% retracement of the earlier rally. Moreover in any upside rally also one will find the resistance exists at 61.8% or 161.8% retracement of the prior correction.

6. One will be able to understand the same amply with Hindalco chart (10 second frame change).