NIFTY UPDATE

NIFTY is yet to conform next leg lower officially.
As we discussed on last FRIDAY,
to resume the trend lower NIFTY have to give a daily close below FRIDAYS low,
so far that has not happenned,
Hens for immediate term there is nothing on offer on short side.
BETTER to wait for conformations.
17th,NOVEMBER is next PRICE TIME SQUARE DATE for NIFTY,
so the LOW of 3rd,NOVEMBER would stay critical till 17th,NOVEMBER.
Earlier we shared positional Target of 18,490,
Since we did not got the reversal this week,
it’s unlikely that we get there till 17th,
We should get there till end of NOVEMBER,
but we would be more interested in trading that move rather anticipating it.
Once spot breaks 19,140-19,200 zone we are going to put in very aggressive trades on short side.
Currently we are not going to pull the trigger,

no matter how confident we are.
Next few days are going to be very critical for over all texture of markets.
NIFTY on price front too is at a very important resistance point.
from its top of 15th,SEPTEMBER to todays date of 8th,NOVEMBER,
the PRICE and TIME EQUALITY for NIFTY is coming at level of 19,500.
So this is going to be a very critical resistance point,
If it sustains above 19,500 then there are some BULLISH options,
Let’s see how it reacts there.