NIFTY UPDATE

NIFTY still have some room on upside, a higher high above (18,707-18,722) would complete 2,price patterns. Once we get that higher high MARKETS then would require to break (17,484) for a breakdown. Watch out for (17,484) as a short term support on spot. TIME wise today and tomorrow would be very critical for INDIAN MARKETS tomorrow in final 30,minutes there would be an INDEX rebalancing which at times could trigger nasty price moves. Closer to (18,750) NIFTY would complete important PRICE moves from lows of (16,828) (17,561) and (18,055) So that was a key reason I posted last FRIDAY that this rally on (NIFTY) could fall short of its record highs. The rise on (NIFTY) from MAY,5th low of (18,055) is very unconstructive based on few rules of SPACE and TIME analysis. Tough subject to put in, but lets see, watch out for given PRICE levels. NIFTY BANK patterns have gone more intresting, it has posted a new high yesterday. it is developing a very rare pattern which is still under process so let it complete that, for short term consider things to be fine as long as it manages to hold yesterdays GAP. stay cautious once that GAP is closed.