NIFTY UPDATE

NIFTY with the break of 19,800 have broken a key PATTERN,
as discussed yesterday,
this can drag the INDEX towards 19591 and 19,391 on spot.
The BREAKAWAY GAP yesterday and a small GAPDOWN today are very significant.
Specially yesterdays open GAP will be considered as a sign of near term trend reversal.
2 weeks back I highlighted 2,factors which can put significant pressure on NIFTY,
1st was a break of 4,430 on S&P,
and,
2nd was a print of 106 on DXY.
S&P has broken 4,430 and DXY is very close to that 106 mark.
We were sure that these levels will be printed,
hens we were bit conscious to enter longs.
NIFTY is back to where it was,
and setup have again turned to sell on rise.
The behaviour of private BANKS and RELIANCE is concerning.
But it wont make sense if I spell that right now.
As an analyst you dont want to indulge with guys who dont understand these thing’s.
Let the MARKET close below previous weeks low,