NIFTY UPDATE

NIFTY never registered a REVERSAL so todays gap higher is not something out of the BOX,
all key LOWS have been holding strongly since 3rd,NOVEMBER,
INDEX now awaits a significant PRICE&TIME SQUARING DATE which as we have been discussing will come on 17th,NOVEMBER,
As we discussed last time until markets are holding critical supports there are no short trades on offer,
We also discussed that 19,500 is a PRICE and TIME EQUALITY POINT,
if spot sustains above this level then there are BULLISH options.
So after todays GAP higher INDEX must stay above this level of 19,500,
Holding this level MIFTY should challenge the OCTOBER high of 19,850.
A tick below 19,500 would again put INDEX back in neutral zone,
More then INDIAN MARKETS we are more focused on U.S. MARKETS because that’s an exciting space to track.
The rally there has been more powerful then the rally here.
Hens we are closely watching how things goes there,
the setup there is intresting we were expecting a marginal breach of 4,420 and markets now have exceeded that,
So if that continues higher from here then that would challenge our medium term view.
The entire NOVEMBER rally has been on expected lines but now it should be at a terminal point,
This has been our view,
Let’s wait for market conformations.