NIFTY UPDATE

NIFTY selloff shall accelerate below (16,850) on spot
On downside there are 2 levels to watch,
1, is a (HEXAGON) target which is placed at (16,660)
and
2, (HARMONIC CHANNEL) target which is placed at (16,550) below (16,850) both levels should get tested rapidly.
If (16,850) is held, then market will escape immediate collapse, it may consolidate further for some more days.
TIME wise this week would be very Important,
TOMORROW is MARCH EQUINOX which is widely followed, but I wont put greater significance on that.
For me, most significant CYCLE date is due on 23rd,MARCH.
Specially the low of 23rd,MARCH would be critical going forward.
Whatever market does in short term, whether they go up a bit then also it’s highly unlikely that we get a dramatic turn on upside.
Going forward it wont be a question of WILL,
it’s only the matter of WHEN.