NIFTY;BANK UPDATE

NIFTY;BANK; has printed a very critical level this morning.
the zone of 46,800-47,000 is an extremely Important Support zone both on PRICE as well as TIME parameter.
So if 46,800 breaks on spot,
then,
that would indicate a strong pullback in coming days.
On TIME front 20th,DECEMBER was a major CYCLE date here.

not because it had a major Intraday collapse on that date,
but because it was a PRICE&TIME SQUARING date from MARCH-2023 low.
So a close below 20th,DEC low would make setup further BEARISH.
Next important CYCLE date here is on 17th,JANUARY,
and the PRICE-TIME-EQUALITY level from the LOW of 38,613 is at 46,840 on spot.
If INDEX sustains below 46,840,
then that could drag prices towards 46,000 and below that most probably should challenge the lower edge of 4th,DECEMBER GAP.