To go back to discussing the next turning point for the nifty again,
2799 was being provisionally looked at as that level.
It was suggested if we don't move well away from it to the up, then we would fall behind it soon enough.
It hasn't been cleared firmly yet as twice the Nifty tentatively closed above it at
2812 and
2804. That we have fallen behind has come to pass.
So 2799 is certainly in the running.
The other level where some heated and intense activity has taken place is
2810. The tussle here was sharpest in the last two sessions though it has been in play for three.
Another level is
2822 which was mentioned on Dec 12:
AMITBE said:
2822 and 2832 may witness some intense play and prove to be a highpoint.
This level too was attempted last two sessions and yesterday the
high was
2821.50.
Yet another level is 2804 which too has seen some severe intraday conflict.
Going by the hard fought battles so far,
2799 and
2810 would still retain my focus.
Of the two,
2799 appears more poignant for the reason that any mark should have a certain leeway in both directions to create an arc or a curve of tension. Something like a circle and the center, as in the theory of centrifugal force.
And how long should then the radius be from that center point?
There must be an optimum length at which the force required to keep up the motion remains balanced.
At a certain point the arc would want to break loose from that center with force.
In this sense that center would be the turning point.
And that point still appears to be
2799.
Its still keeping the Nifty bounded in either direction.
Physicists and engineers in the forum, do please pardon me for taking liberties with your subject.
The centrifugal force theory been mentioned rather like a metaphor.