NIFTY UPDATE

NIFTY if gives a daily close below yesterdays low of (17,045) that would continue to keep short-term TIME CYCLES bearish.
MARKET had a decent opportunity to rally in past few days, but we dint got any material upside.
Going forward if it do not close below yesterdays low,some upside is still possible.
As a trader fresh entry is only ideal in zone of (17,300-17,500) if having view for next 6-8 weeks.

If this zone does not come then, fresh entries would be tough, better to continue with whatever you have.
NIFTY BANK most probably would lead next leg lower.
Few banking STOCKS have allready given primary indication for major down move,
Specially SBI and ICICI;BANK would be key drivers on downside as and when crack unfolds.