NIFTY CRUCIAL UPDATE (must read)

-us market near 200-wma
-spy has also broken previous low
-in previous update i had indicated dollar index is crucial for us
-if dxy broke 110 we will move towards dot.com crash level of 120 (2000-01)
-us mkt is in complete bear grip

INDIAN MARKET UPDATE
-the term decoupling was used by me for the first time in june
-today it is visible that we are now catching with global markets
-but just observe
-wen last time s&p 500 and dow jone hit levels of 3650 and 29500 (today@29000)
-we were trading around 15200 that time
-today we are near 17000
-remember when this market makes a bottom we will outperform the global markets

NIFTY INDEX CRUCIAL LEVELS
"16830"
-we have traded it multiple times in the past
-if closes below 16830 i am expecting a test of 16480-16420 zone
-so new sharp range of 400-500 will open up on downside
-if we defend 16830 then 16980-17070-17225 will be upside hurdle
-dont worry about the trend
-a close above 17240 will again allow us to built positional longs

note
-fii have started again accumulating stock futures
-tomorrow we have an rbi policy
-expecting october month to be bullish if we manage to defend 16800
-oil and gas prices have come down sharply
-although yesterday sabotage of oil reg caused some panic
-i have explained earlier also
-if the demand in us market dies down which is needed of the hour for them
-crude oil prices will collapse
-which will have a positive impact for us

Comment:

AGAIN LIKE EXPLAINED
MARKET MOVED ACCORDINGLY
HOLDING LONGS IN BANKNIFTY
AFTER BREAKOUT OF FALLING WEDGE