NIFTY gets a thrust higher with a GAP,
but because this GAP has happened after the break of 20,850 that could possibly put INDEX in a TOPPING process.
obviously the process would take its TIME to complete but yesterday we did got initial indications for that.
So better not to expect another 500-700 points immediately.
Need to stay cautious here,
but that doesn’t mean to attempt a short.
atleast not until support levels are broken.
PRICE supports now have shifted higher from 20,691 to 20,920 on spot.
TIME support dispite a break continues to stay at 20,850,
if the equality level of 21,048 is breaking then that would be the 1st,sign of weekness.
things are fine above that.

NIFTY breaks 20,850 so we now have very primary signs for an initial pullback.
This practically means we have to square off all leverage positions,
also the day on which supports are breaking would have far reaching consiquences.
but for now we have to approach things wisely,
Yesterday we did discussed level of 21,048 as PRICE-TIME-EQUALITY level so as long as INDEX stays below this level then we have to consider that rally is perhaps ending.
Certainly more evidence needed for that,
for now pullback is the word to focus on,
still for now 20,691 is holding
once that breaks we could see levels of 20,488 and 20,275 in next few days.

NIFTY had NATURAL CYCLE DATES on last FRIDAY and this MONDAY,
, so now along with PRICE TIME supports too have shifted higher.
, TIME supports have shifted higher to 20,850,
, and PRICE support still continues to stay at 20,691 on spot.
, So we have absolutely clean support zone to work with,
, So rather anticipating a TOP watch out for these support levels to break.
, Tomorrow we have PRICE TIME SQUARING DATE and the exact level of PRICE and TIME EQUALITY will stand at 21,048 on spot,
So for this rally to continue higher INDEX must sustain above this level.

UPL is approaching a strong resistance POINT both on PRICE as well as TIME front.
, Next few days would be very critical for its structure,
, STOCK is currently facing a PATTERN resistance at 603,
, once it gets above 603 it would open up Targets of 638 and 675 on cash in Coming days. TIME wise 15th,DECEMBER would be an anniversary date here not only that it also would be a significant CYCLE date from its lows of 31st,OCTOBER,
, If STOCK can sustain above 603 after 15th,DECEMBER then that would indicate much higher levels.
, 2

S&P;500; and NASDAQ;COMPOSITE, are still holding their supports of 4,450 and 14,033 respectively.

for S&P supports have shifted higher from 4,450 to 4,500,
but for NASDAQ support continues to remain the same.
As long as these supports are held MARKETS are likely to continue with their uptrend.
We discussed this earlier as well,
going against this momentum would not be a wise thing to do as a TRADER,
we would certainly look for a significant REVERSAL,
but this wont be a right TIME to do that,
let the MARKET take down their supports.
Currently both INDICES are holding below their JULY highs going forward we are expecting those highs to break either today or on MONDAY,
if till MONDAY S&P and NASDAQ fails to take out 4,607 and 14,446 respectively then few very dramatic PRICE-TIME-EQUALITY options would be on table,
but for now let’s have realistic expectations of INDICES making fresh 52,weeks highs.
Things are likely to get more intresting post those highs.

NIFTY continues to trend higher our PATTERN objectives have already been achieved earlier.even though market continues to stay at extreme levels.
We are not getting that indication for a pause or a near term pullback.
We have been tracking near term supports closely,
On MONDAY we shared the level of 20,240 as a support,
that level today have moved higher to 20,691 on spot.
We only have PRICE to work with as of now,
Atleast till FRIDAY there are no TIME CYCLE DATES.
In mid NOVEMBER I shared 13th,DECEMBER as PRICE and TIME SQUARING DATE,
so that continues to stay a very important date,
but beforr that on FRIDAY we have NATURAL VIBRATION CYCLE DATE and on MONDAY we have HARMONIC CYCLE DATE both dates would be applicable to almost all MARKETS,
So TIME activity is about to pick up soon.

NIFTY comfortably achieved target of 20,475 which we discussed on FRIDAY,
with this INDEX also stands exactly at its PATTERN objectives of 20,500-20,700,
We were looking at this zone since NIFTY broke out above 19,881 on 28th,NOVEMBER,
This zone of 20,500-20,700 also completes the PATTERNS like (SQUARE OF 9) and (HEXAGON) things are getting little bit extreme here so market should hold on here for couple of days.
Nearest support for NIFTY have moved higher from 20,000 to 20,240 on spot.

NIFTY have posted fresh record highs which is very much on expected lines.
As a trader you always looks for such trending move which we got from tuesday when NIFTY went above 19,881.
This rally still have more to go atleast till 20,475 to 20,700 in next few days.
As I had repeatedly said,
no major CYCLE DATE exist till 13th,DECEMBER.
While looking higher we should keep track of supports as well.
As of today significant PATTERN supports are placed at 20000 on spot,
Any pullback which holds 20000 would maintain the BULLISH structure and would continue to indicate further higher highs in current upmove.
This is a TIME where we should look for TREND continuation not an ideal TIME to look for REVERSAL.
We shall get certain TIME windows for REVERSAL but we shall discuss that when TIME is appropriate.
Next week We have EVENTS like ELECTION RESULTS and RBI POLICY,
Let’s see,
We dont think EVENTS would damage the current MARKET STRUCTURE.

AARTIIND has given a higher degree breakout on PATTERNS like HEXAGON and SQUARE of 9,
STOCK has provided enough signs for a minimum upside for atleast 15 to 20% in next 6 months.
even for short term a daily close above 564 would trigger further expansion of current rally upto 600 and 637 on cash in coming days.
Any pullback towards 530 would be an ideal level to enter or add positions.

NIFTY with the break of 19,881 have given indication of much higher levels.

it took it’s time but we finally got our conformations yesterday where it closed above this point.
So as we discussed on 17th,NOVEMBER this move higher should easily take out SEPTEMBER highs.
we have certain projections which are suggesting zone of 20,500-20,700 on higher side which could be tested possibly till january.
As I said on 17th,
next major date for NIFTY would be on 13th,DECEMBER So we have no major CYCLE date till next 15 days.
For extreme short term 20,050 is a small resistance if spot stays under this zone there could be a pullback closer to 19,850 but that could be a buying apportunity.
Several pockets like BANKS are unlikely to participate much in this rally.
Means NIFTY BANK is unlikely to make new highs while METALS and I.T. should make fresh yearly highs.
The move higher may be sluggish it doesn’t have to be straight forward.
Now what this means for MARKETS in 2024 is a different story,
for now let’s focus on the near term setup.