MARKET UPDATE

NIFTY after achieving PATTERN Targets have given a smart recovery.
On wednesday we discussed couple of points which were not supporting the BEAR case in extreme short term.
We focused on INDIA VIX closely,
The failure to take out 13.40,
is not going to bring in any sort of panic in markets.
Another point was on PRICE and TIME SQUARING on NIFTY on 9th,October at PRICE of 19,267.
Firstly on MONDAY,
NIFTY would square the TIME from september,2022,low.
PRICE certainly would square at 19,267 but it’s not necessary for market to print the PRICE on that exact date.
Since PRICE is a substitute of TIME sooner or later PRICE have to go at equality of TIME.
To put it in simple terms,
Just like MOON orbits EARTH,
PRICE to orbits the TIME.
So if my calculations are correct,
NIFTY have to print 19,267 on spot in coming days.
Based on that we prefer to add shorts here and on rally till 19,800.
also the low of MONDAY would be very critical.
Same is the case with $S&P;500;
Today that too would SQUARE its PRICE and TIME from its MARCH low.
PRICE level to watch would be 4,168 so let’s see how and when it gets there.