NIFTY and MARKET UPDATE

NIFTY supports are well defined, the upmove theoriticlly is incomplete as long as low of 17,774 is held on spot. To negate the (VIBRATION PATTERN) strength INDEX have to print 17,825. As long as 17,825 is intact, short term setup remains UP!
NIFTY BANK is a shade weeker then NIFTY, but here also next leg down can resume only below the DECEMBER low of 41,569 on cash. TIME wise 13th,january is very critical followed by 18th and 23rd,january for both INDICES!
Todays decline is a point of concern but better to wait until levels breaks. In U.S. MARKETS $S&P;500; have completed minimum projections of 3,940 yesterday, now 3,825 would be a key level to watch. If 3,825 holds we could have an extension for this upmove, but if 3,825 breaks we could see 3,751 once 3,751 breaks it will enter in its next stage of correction which would be very sharp. Let’s watch. How it goes!