NIFTY UPDATE

NIFTY still have that space to travel towards 17,850, but the problem from last 2 days is intraday real body dispite Gap,up and market moving higher has been black
Does that holds any significance, my chartist friends can elaborate more on that
17,400 is a strong pattern support for NIFTY
But do break of 17,400 signal a trend reversal? If you are not aware on patterns then you have to look little bit backwards
Since the lows of 15,183 in june, the max price correction point wise on NIFTY was 420 points, which was from 16,276-15,856 if any dipp, exceeds this length on price and time scale, Expect trend to turn south
This is an easy way to figure out things
If anyone who have gone through the book (TRUTH OF THE STOCK TAPE) by sir Gann, must have applied this
Many traders have asked this question from last 2 days, hope this helps
Next week we have 2 TIME CYCLE dates on 16th and 19th,august
Which would signify setup going forward
There are multiple TIME CYCLE date starting from 16th, would UPDATE on that later