GUJGAS is attempting a breakout of a VIBRATION-PATTERN.
A daily close above 462 would indicate an end of a long sideways consolidation here.
A daily close above 462 could take it towards 488 and 510 on cash in coming days.
A print of 464 would also be a reliable sign for a breakout.
Nearby CYCLE dates would be on 29th,DECEMBER and 4th and 5th,JANUARY.
the PRICE-TIME-EQUALITY level from OCTOBER lows is at 495 so let’s see how long it takes for this STOCK to reach there.

NIFTY got that anticipated pullback towards its support of 20,930 on spot.
We were expecting INDEX to make a tradable TOP until it would had stayed under 21,623,
with yesterday’s high of 21,593 we probably got that.
going forward INDEX have a very strong PATTERN support at 20,930,
a break of 20,930 can drag PRICES further towards 20,710.
for now we are watching 20,930 very closely as a major support.
We are still no where near a BEARISH sinario on TIME front atleast.
until 5th,January which is next PRICE-TIME-SQUARING date I would prefer this pullback only as a temporary cause after 5th we would have multiple options to work with.

NIFTY if going forward sustains above 21,623 then our objective of INDEX making a tradable TOP would hold incorrect.
We were looking for a pullback towards support of 20,930 but that’s unlikely to happen if 21,623 has been taken away.
TIME wise since major low registerd in OCTOBER INDEX have successfully held its intraday LOWS whether it was 3rd,NOVEMBER
17th,NOVEMBER or 13th,DECEMBER the rally kept getting more powerful from Intraday LOWS of these dates.
I earlier shared these dates much in advance,
next such date would come again on 5th of january,
So we could see this rally extending higher above 21,623 till 5th.
Even if prices fall before 5th that still wont be BEARISH.
TIME wise INDEX have to chop around high and low of 5th to attempt a turn lower.

NIFTY is still within the TOPPING process,
, yesterday when I said that many called me a perma BEAR which was quiet hilarious,
, people finding it tough to accept that NIFTY can ever give a dipp.
, which further confirms my view.
, I didnt said that NIFTY have TOPPED out,
, I always said that we are in a TOPPING process which will take its TIME.
, after a 13% rally if you cannot handle a pullback of 5 to 6% then you really need to correct your mind set.
, it’s not about turning BEARISH or staying BULLISH it’s always about being profeshnal as a TRADER,
, since mid NOVEMBER I had been BULLISH and MARKETS have seen sharp upsides since then.
, throughout the rally I had continuously shared support zones which as of today had held strongly.
, So as long as these support areas are held this rally wont be challenged.
, I already shared supports yesterday so that remains the same.
, Since people called me perma BEAR let me tell you that an ideal short trade is on offer in january not in december.
, So in december the BULLISH bias can be continued.
,

$S&, P;500; and NASDAQ;COMPOSITE; have registered fresh 52,week highs,
, We were expecting this,
, So with this we believe all upside projections are completed on both INDICES.
, We are also approaching the point at which we have to look for a possible REVERSAL,
, Until now since mid NOVEMBER we were looking for trend continuation from 18th,DECEMBER we would look for trend REVERSAL.
, Things are not going to turn dramatically overnight but during the course of next 9 to 12 days we should witness a TOPPING process and then start of a REVERSAL,
, the magnitude of the decline could be discussed later,
, currently sentiments are so BULLISH that people cannot even handle the discussion of a REVERSAl.
, The final push higher could further motivate those spirits.
, Watch out for 4,650 on S&P a close below 4,650 would be 1st sign of weekness and a close below 4,597 would confirm that
, For NASDAQ that level would be 14,400 wait for these levels to break to trade upcoming REVERSAL.
,

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.