MARKET UPDATE

NIFTY, failed to make a Lower Low on Pattern day
But the good part is it has not made a Higher High as well
So finally short-term TIME CYCLES are turning neutral if not bearish
Need to watch, whether U.S. MARKETS makes a lower low or not
If they does, then they would lead the fall
That would be enough for other markets
Looks unlikely that U.S. MARKETS also vitnes an Inside day
Few EUROPEAN MARKETS are breaking yesterdays low, which is pointing some weakness ahead
For (NIFTY) it’s important to stay under todays low to resume its downwards journey
Since today was also a (TIME SQUARING DATE) todays high and low would be referred till next (TIME SQUARING DATE) which would be on 19th,august
Its bearish if sustains below todays low. But if it starts sustaining above todays high, then have to consider 17,850 on upside
The long term TIME CYCLE remains bearish
But to validate that few price levels have to break
Once 17,000 breaks
The fall would be sharp and noisy