NIFTY UPDATE

NIFTY takes out 19,800 which stopped us out from our short trades.
In AUGUST we utilized this RESISTANCE zone multiple times and ended with profits everytime.
This time it dint worked out,
which is fine.
NIFTY has been veryy resilient during this week,
which has resulted in cross asset mislocation,
We suspect if global markets continue with their correction,
NIFTY could give away majority of its recent gains.
We are watching 4430 on S&P and 106 on DXY Quiet closely,
Once these levels are broken convincingly we could see very sharp reactions in global EQUITIES.
As far as going long is considered,
we prefer to trade STOCKS like GAIL and UPL for upside returns of 6 to 8% in short term.
NIFTY for us is a hedging Instrument which we use differently.
Hens we gives less preference to it on long side.
TIME wise we discussed earlier that 4,cycles are aligning for NIFTY from 31st,august to 6th,september,
Since NIFTY bottomed on 31st,august that low would be extremely important going forward.
Infact for very short term yesterdays low also would be important.
Next week we have 2 CYCLE dates for whole market.
1 is on 11th and other would be on 14th,september.
Not only that next week INDIAN MARKETS would complete 25,weeks from MARCH 2023 low 64,weeks from june 2022 low and 180 weeks from march 2020 lows.
So things wont be that easy.
Another exiting week awaits us.