NIFTY UPDATE

NIFTY; got that rally which it required. Critical markers were held which we pointed out on MONDAY. going forward those levels would continue to hold greater significance. what were those levels? let’s again note that down.
We pointed out 2,levels 1,(17,472) on closing basis, 2,(17,391) on print basis both these levels are very important on (PRICE) and (TIME) parameters.once breaks next phase of correction or decline would resume, which can take (NIFTY) towards 16,855 and practically below SEPTEMBER lows. On upside all rallies are likely to stay under 18,150-18,300, on spot. Today is BUDGET and FOMC MEAT in evening so volatility would be on higher side. Once EVENTS are out of our way MARKETS would react to its Technical setup. NIFTY BANK too 42,000-42,400 is resistance and 39,000 is support, let’s see how long it takes to break supports.