NIFTY broke below all key supports today.
So we do have REVERSAL signs in place.
As I posted earlier a daily close below 26th,FEBRUARY LOW would be a BEARISH sign on TIME FRONT.
now when we have got that so let’s see how things goes in next few days.
On NIFTY still downside move is not straight forward.
21,800-21,850 could still act as a near term support,
but once that also goes it’s all over because below 21,800 NIFTY could have a sharp fall towards the zone of 21,250-21,450 that too in a trending manner.
NIFTY BANK as we discussed in morning gave a print of 46,100 so setup for a waterfall decline has developed here.
Ideally it should move lower swiftly down and retest its JANUARY LOW of 44,429 as early as 8th,MARCH.
still watch out for SBI and RELIANCE a lower low below todays imtraday low would further intensify the momentum on downside.
gann,insides 