NIFTY UPDATE

NIFTY is still in hunt for a TOP, Yesterday we had a very important CYCLE date for MARKETS . As posted earlier once MARKETS close and sustain below 11th,APRIL LOW, short-term TIME CYCLES would turn BEARISH and that would put a ceiling on this rally. There are 2,points which would conform reversal from this point. 1, A sustained trade below (17,655), and 2, A break of (17,491-17,424) on spot. Once MARKETS fulfil both these criteria we are likely to witness an epic collapse in MARKETS, which can carry (NIFTY) towards 2022 lows of )15,183) till JUNE. We have said this multiple times in past, infact in past week we concentrated particularly on this quarter for our BEARISH view to play out we are looking this as journey of 12,weeks this is going to be a long journey and we are in very primary stage of overall path or the scheme of things. It won’t be an ideal thing to judge MARKETS based on their recent price action. We are of the opinion that, MARKETS are likely to play out similar PATTERN which it played during JANUARY of 2022 lets see, better to hold on until certain PRICE levels are broken. We are sure that levels will break, but no harm in waiting.