NIFTY at 18,644 will complete a Triangle and also hit 2×3 Angle from SEPTEMBER bottom. At record highs the thing which I prefer to focus would only be supports. PATTERN supports are in the zone of 18,267-18,330 on spot.
As long as this zone holds MARKET would continue this move. The entire objective for this rally has been depended on PATTERN supports not only in INDIA but in U.S. as well.
U.S. MARKETS are very close to break the lows they printed on TIME SQUARING DATE
once they sustain below that, the counter trend bounce which started from october 13th low, would come to an end.
22nd,oct was that date. Need to watch that.
Once they conformed reversal markets would go back to october lows in very short time. Similarly NIFTY also would catch up on downside below supports
But until supports are held there is no weakness for now.
NIFTY UPDATE
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