NIFTY BANK UPDATE

NIFTY BANK is in some other trend. Wont be fare if I call it as an uptrend,Not a downtrend as well. Few days back shared level of 42,900 as very critical support. So far holding it well. From late OCTOBER this index has been in fairytales BULL MARKET.
Because in OCTOBER it made a high of 41,700 and in DECEMBER the high is 43,515 so in the course of 45 days the range is only 1800 points. Truly historic, when was the last time we saw such price behaviour at the TOP. Think for a while, should find the answer!
TIME wise on 5th,DECEMBER it completed the TIME rotation from MARCH lows. But we would see its impact only once 42,900 breaks. Going forward 9th and 12th DECEMBER would be key turning dates, which could push prices to atleast move normally.
PRICE wise, earlier from SEPTEMBER low we did expected a bounce, but that bounce expanded further. The structure got complicated but overall setup still remains BEARISH. Sounds strange, but that’s how it is!
For short term there is a process which have to be followed which shall begin once 42,900 breaks. For medium term minimum objective is 32,155 once we get there shall post further projections. January might be that PIVOT MONTH, let’s see!