NIFTY UPDATE

NIFTY have posted fresh record highs which is very much on expected lines.
As a trader you always looks for such trending move which we got from tuesday when NIFTY went above 19,881.
This rally still have more to go atleast till 20,475 to 20,700 in next few days.
As I had repeatedly said,
no major CYCLE DATE exist till 13th,DECEMBER.
While looking higher we should keep track of supports as well.
As of today significant PATTERN supports are placed at 20000 on spot,
Any pullback which holds 20000 would maintain the BULLISH structure and would continue to indicate further higher highs in current upmove.
This is a TIME where we should look for TREND continuation not an ideal TIME to look for REVERSAL.
We shall get certain TIME windows for REVERSAL but we shall discuss that when TIME is appropriate.
Next week We have EVENTS like ELECTION RESULTS and RBI POLICY,
Let’s see,
We dont think EVENTS would damage the current MARKET STRUCTURE.