NIFTY UPDATE

NIFTY is largely unchanged again. This sideways PRICE action holds no relevance. The only point which matters is a daily close below yesterdays low of 18,130 approx.
Since that’s the low of (TIME SQUARING) date, we require a daily close below its low to break the PATTERN.
Just to give the example how critical yesterdays low is, we need to check precisely previous (TIME SQUARING) DATES. They were 3rd,OCTOBER, 19th,OCTOBER and 4th,NOVEMBER. AFTER 4th, next date was yesterday 22nd,NOVEMBER.
Since 3rd,OCTOBER NIFTY has not closed below the low of these dates.
So once we close below yesterdays low, that will break a pattern, which later would result in higher degree reversal which I mentioned earlier. If we don’t get the closing then this sideways to positive activity will continue.