NIFTY UPDATE

NIFTY naking things intresting now.
This recent bounce may revive Hopes for a TREND Change, but unfortunately that wont happen.
This may sound strange, but according to medium term patterns (NIFTY) still have plenty of work to do on downside.
Now this term (MEDIUM TERM) has to be understood wisely, it gets tough to UPDATE short term levels in real time specially when markets are very active, so I prefer to update only the medium term structure, and I personally take heavy trades based on that.
If I trade quarterly OPTIONS then my view has to be atleast for 2 months minimum.
So based on that view, such strong upsides does not impact those trades
At few occasions these upsides helps to add position’s.
Coming to near term setup now, last week I mentioned MONDAY 6th and 8th MARCH are 2,key CYCLE dates.
Today being a VIBRATION DATE and on wednesday it would be a HARMONIC DATE,
So for Today we mark the intraday low which is printed till closing, and then we shall wait for a daily close below it from wednesday,
Once this happens markets should resume it’s downtrend,
So it’s a process which we have to follow if looking for an immediate sell off.
For medium term direction of markets is decided by PATTERNS such as (HEXAGON) or (HARMONIC CHANNEL) and the speed or velocity of that direction is decided by short term TIME CYCLE DATES.
So watch out.