NIFTY;BANK; today confirmed a significant PATTERN breakdown breaking the DECEMBER low of 41,569 on spot. We finally got the Missing piece of the BEARISH (JIGSAW) which we have been discussing publicly for several weeks now. Well from our side PUZZLE is completed. Matter of TIME,we are in for that move on downside.
I only needed the break of DECEMBER low on both INDICES, which I got, this further validates my BEARISH view. I still await participation from U.S. MARKETS, looking forward for that in next couple of days.
For (NIFTY) things went quite extreme below MONDAYS low, 23rd,jan, as we discussed earlier was significant CYCLE date. Going forward it should break low of 17,761 and move towards the (HEXAGON) Target of 17,578 which has been our pending downside level to achieve.
We have UNION BUDGET next Tuesday, which would be an important EVENT for MARKET, going with this structure we cannot have dramatic turn on other side, may be 1/2, days of relief nothing beyond that. Let’s see.
NIFTY UPDATE
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