NIFTY UPDATE

NIFTY did what was needed on 2,very critical dates which were on 11th, and 14th,AUGUST.
No doubt the print of (19,140) is still pending but INDICES registered fresh LOWS which for now is enough for PRICE to continue with the BEARISH tone.
the lower low below (19,296) on MONDAY have turned the weekly structure BEARISH.
this turn on weekly setup have happenned after the LAST week of APRIL.
So that’s something to consider going forward.
The bounce from lower levels appears as an opportunity to sell on higher levels.
On upside the zone of (19,600-19,800) is the strongest resistance zone.
Things cannot change as long as spot stays under this zone.
Lets see, what markets does till 18th,AUGUST,
if (19,140) does not prints till FRIDAY then TIME periods could extend till 25th,AUGUST.
There are severe cracks developing on NIFTY BANK FINNIFTY and FMCG INDEX this is something which has to be monitered in next few days.
Overnight nothing is going to happen, things certainly will take it’s own time to unfold.