NIFTY UPDATE

NIFTY after achieving our short-term objectives is consolidating near its lows. Very unlikely that we would get a major upmove, just because (NIFTY) has been down for 9, consecutive days-that does not mean that we have got closer to any sort of BOTTOM in place !
Yes at best, we can see some recovery for a day or two which can push prices till 17,490 to 17,620 on spot, but that too would be an opportunity to create fresh shorts. TIME wise we will have major TIME CYCLE dates on 3rd 6th and 8th MARCH, 6th would be a major CYCLE date which would provide us key markers for price reference going forward. On downside we are likely to test zone of 17,000-17,150 which would co-inside with (HEXAGON) and (HARMONIC CHANNEL) Target and below that 16,850 and 16,550.
NIFTY BANK is more intresting so far it have saved 2023 lows we believe it’s just a matter of TIME before that lows are broken We have added shorts here for targets of 38,100 on spot.
U.S. MARKETS also have turned lower we should get major price cuts there in days ahead !