NIFTY GENERAL UPDATE

NIFTY with yesterdays close have triggered a PRICE&TIME breakdown.
So this have resulted in a TREND shift from sideways to BEARISH.
this conformation would provide us great amount of comfort to sell all upsides from here.
As we discussed on last THURSDAY a break of 21,600 have generated a SQUARE OF 9 breakdown which have target objective of 21,150 on spot in coming days.
INDEX on surface is still stable,
but the manner in which broader market have sold off since FRIDAY is concerning,
As I shared earlier there could be a TOP in place for SMALLCAP and MIDCAP INDICES.
a lot would depend on this initial decline specially how much INDICES are giving away from their gains since OCTOBER LOW.
For overall MARKET the decline from HIGHS is very much LOCAL.
GLOBAL MARKETS since past 2,weeks have done well.
Today should be a real test for GLOBAL INDICES as well.
if post U-S-CPI INDICES turns lower then that could trigger a much anticipated REVERSAL in GLOBAL MARKETS as well.