NIFTY is not actually reflecting what’s happening in BROADER MARKET!
SMALLCAP INDEX at 15000 is at a significant support as we have discussed in past! A close below that would trigger a MEDIUM TERM REVERSAL! remember a MEDIUM TERM REVERSAL would mean a fall towards 13600 to 13200 very conservatively!
for NIFTY holding above 22220 on closing basis nothing actually changes technically! TOP cannot be confirmed until then! NIFTY BANK too had VIBRATED significantly on TIME TUNES! one more lower low below todays imtraday low would bring lot of chaos going forward!
whether INDICES makes a move from tomorrow or they would hang in here for few more days? lot would depend on todays CPI PRINT of U-S due in EVENING!
CRITICAL CPI REPORT COMING UP FOR U-S-INDICES TODAY EVENING!
very important session for wall street today. In my weekly post I shared level of 5050 on S&P as a very important PATTERN support below which we could see a sharp decline in coming days! INDEX yesterday went to 5090 and recovered! Technically trend is turning south but for any reason if INDEX pushes higher post CPI PRINT and breaks 5189 then that rally is unlikely to sustain!
5185 is a PRICE-TIME SQUARING LEVEL for S&P so PRICE expansion above this level is going to be very tough! let’s see do watch out for 5050 very closely not only for today but for coming days as well!
NIFTY got a free fall below the HARMONIC SUPPORT of 22220 which we discussed multiple times since last 2 days! next support is at 21,800! watch out!
gann,insides 