NIFTY UPDATE

NIFTY reminds me of a famous song of 1932 by HENRY HALL,
it goes like this,
If you go down in the woods today, you’re sure of a big surprise
If you go down in the woods today, you’d better go in disguise.
the title of this song is (THE TEDDYBEARS PICNIC),
and it really looks like MARKETS are returning from one such PICNIC.
On MONDAY I posted that NIFTY during this decline should not overlap with its previous high of 18,887,
Earlier NIFTY BANK and today NIFTY overlapped with its 2022 highs which ruled out the possiblity of a CYCLE breakout, in our opinion there was never a CYCLE breakout today that’s officially confirmed.
There was always an extended rally which too was very annoying.
Majority here would be aware on my outlook on MARKETS and for that same outlook my theories were hilariously presented by certain individuals.
I am not going to repeat same things again.
The outlook remains what it was.
6 months down the line retail guys anyways would learn their lesson.
Anyways coming back to short term now.
Today with the print of 18,972 NIFTY have achieved our HEXAGON TARGET.
We have carried BEARISH trades since levels of 19,650-19,800 and we have captured this entire fall,
At one point MARKET will find a base and recovery after that would be critical to watch.
Technically 18,710 is next target but that might take TIME.