NIFTY UPDATE

NIFTY was showing signs of exhaustion in past week, as we discussed on last Friday above (18,389) NIFTY certainly would struggle to travel, I also spelled out the reason for that. With todays move below (18,195) markets are getting very closer to an important REVERSAL point. The INTRADAY move below (18,000) or even (18,042) would mark a major REVERSAL which would signal an end of current rally from MARCH lows. I posted this earlier as well, once this REVERSAL is confirmed we are likely to vitnes a waterfall decline in MARKETS. I dont want to go in greater details of other CYCLES aspects but point which we need to understand is below (18,000) PRICE damage would be severe. If you think that MARKET has done alot in last 20,days then you really need to check MARKETS from the high of 28th,APRIL. There has been enormous PRICE consolidation in last 3,weeks not only in INDIA but in global markets as well. it’s high time that this consolidation ends in days immediately ahead. Last time when I said that MARKETS would test MARCH lows people misread that, I dont think that lows should hold, lets see where we end in june.