NIFTY UPDATE

NIFTY with the break of 19,881 have given indication of much higher levels.

it took it’s time but we finally got our conformations yesterday where it closed above this point.
So as we discussed on 17th,NOVEMBER this move higher should easily take out SEPTEMBER highs.
we have certain projections which are suggesting zone of 20,500-20,700 on higher side which could be tested possibly till january.
As I said on 17th,
next major date for NIFTY would be on 13th,DECEMBER So we have no major CYCLE date till next 15 days.
For extreme short term 20,050 is a small resistance if spot stays under this zone there could be a pullback closer to 19,850 but that could be a buying apportunity.
Several pockets like BANKS are unlikely to participate much in this rally.
Means NIFTY BANK is unlikely to make new highs while METALS and I.T. should make fresh yearly highs.
The move higher may be sluggish it doesn’t have to be straight forward.
Now what this means for MARKETS in 2024 is a different story,
for now let’s focus on the near term setup.