NIFTY - IT IS A BREAK!!

Nifty bulls failed. The flash advise worked perfectly and the close is classic. (It closed near bi-monthly ATH). However, the weight is too much to hold and the bears are staring around the 17600; that is 38.2% of the retracement of the rise from 16400 to 18350. Near term Minor support 18080 that should give way by gap down, psychological 18000, one decent around 17960-930 area. Brace for the down move and the longs have to wait sans any miracle. The back-drop is clearly global inflation worries led by exponential rise in US Yields in Nov 2 Year yield was at 0.38 now at 1.05 that is almost 300% jump. Continue the short of new shorts stops remain 18280 if one can afford or 18180-210 area. First target 17930 and wait for the balance towards 17650-700 area.