NIFTY UPDATE

NIFTY have given initial signs for a sharp TOP at Todays high, but some more work is required to conform it completely. As we discussed in previous week, an authentic reversal would be a 2,step process which shall begin once spot close below 17,655, below that we will look for break of 17,491-17,424, with todays decline possiblity of breaking this zone have increased substantially that too, within this week. Let prices confirm their reversal, until then better to wait. TIME wise we have 2,very important CYCLE date this week. Most Important would be TOMORROW on 18th, which would be (HARMONIC,+,TIME SQUARING DATE) and next would be on 21st, which would be a (VIBRATION DATE) watch out for both these dates. NIFTY is struggling between weakness in I.T. and strength in BANKS I believe that BANKS too should role down soon, once 41,500 breaks on NIFTY BANK this rally should get its TOP. Lets see watch out for 41,500 primary indications for reversal would b below it.