Kishokkumar-9 Fibonacci series

Hi,
Your Question 1 :: Fibonacci series It is good for intraday..?
Fibonacci numbers are not quite effective for intraday.

Your Question 2 :: Any short term explanation of Fibonacci series
Fibonacci Retracements is a tool used to identify the price ranges in a stock chart from where the stock’s price could reverse. If a stock that has been constantly raising starts falling, it can be expected to rebound once it reaches this range. These retracement zones are identified using Fibonacci trading ratios. Fibonacci analysis involves four key ratios: 23.6%, 38.2%, 50%, and 61.8%.