NIFTY UPDATE

NIFTY have escaped immediate collapse for now,,
Even though it narrowly broke (16,850) it was pulled higher by decent recovery on (NIFTY BANK)
Now this has been a PATTERN since late DECEMBER,
Recoveries in (NIFTY BANK) is always misleading.
Every rally since late DECEMBER have resulted in new lows,
This TIME too wont be different.
As I posted on MONDAY, whatever market does in short-term it would have no material impact on overall Structure, even if it goes higher then also it’s unlikely that the BEARISH trend gets reverse.
So rallies are only an opportunity to add shorts if you have missed prior declines,to add fresh shorts,
look for sharp and violent upsides to add shorts,
Safe shorts would be in zone of (17,300-17,500) for fresh entry, not sure whether we can go there or not, but have to keep OPTIONS open for that,
Tomorrow we have a critical CYCLE date, so tomorrows low would be critical for short-term, a daily close below tomorrows low would continue to keep short-term TIME CYCLE bearish.
But before that, tonight we have an event,
in U.S. MARKETS which in technical parameters would be very significant, todays closing would be important for (S&P) If it close down even by 1 point Today, then near term consequences would be very BEARISH.
Lets watch,
Intresting 24,hours coming up.