NIFTY UPDATE

NIFTY have taken out the high of 18,179, today. Last week we thought that we are ending this rally. But that required the conformation: which dint came. The conformation would had came, if NIFTY would had printed 17,950 on spot!
It went very close but some how managed to protect that. So we dint got that SHORT signal. Anyways since 2nd,week of OCTOBER: I had been skeptical to SHORT this MARKET. Still I kept posting the support levels, which till today has been saved or protected!
There were multiple developments on PATTERNS and CYCLES which suggested a decent rally: after the decline which took place in 2nd,half of SEPTEMBER. Now the tough part of this view was, how far this could had stretched?
Today we know that answer, at that point I preferred to focus only on TIME&PATTERN supports, which worked throughout and is still working well. I wasn’t really interested in guessing the TOP: Because it’s tough
To call a TOP of a move which is coming out of a CYCLE DEVIATION! It only can end with a break of a PATTERN support. or after completing a CYCLE rotation. Its definitely not a trend!
I know this point wont go well with RETAIL TRADERS. But things still have not changed: finally to put it in technical terms, once we have the TOP of this rally. NIFTY can go back
To JUNE low of 15,183 in 66% of TIME, starting from 17th,june to X,day of NOVEMBER: For example if it takes 100 days from LOW to HIGH it would only take 66 days to go back to LOW from HIGH!
From days I mean Trading days not Calender Days. So let’s wait to TRADE that move, once this rally ends: so far it has not ended until supports are held. TIME wise max it can continue only till next week!
Suppose if it keeps rising till next week, then PRICE wont matter, whether it breaks 18,604 or not. The end result is not going to change. From here better to take 1 day at a TIME, And keep focusing on supports!