NIFTY;BANK breaking 46,800 on a key CYCLE DATE is not a good sign for overall MARKET.
Still a daily close below 46,800 would make things technically BEARISH.
Once it closes below 46,800,
that can potentially mark the TOP for NIFTY;BANK at its DECEMBER high of 48,636.
NIFTY;I.T., too is developing signs for a near term trend shift,
the MONDAYS high of 37,929 could hold for few weeks.
and this INDEX too can under-go some consolidation with a negative bias in Coming days.
Now what this means for NIFTY?
for NIFTY it’s not completely BLACK or WHITE,
with todays gap down below its support of 21,850 INDEX has again entered into a sideways territory.
Not in a negative territory yet.
but if NIFTY spot starts to close below 21,620-21,650 then that too could enter a BEARISH zone.
Particularly for NIFTY INTRADAY LOWS of 19th,and,22nd january would be absolutely critical.
gann,insides 