Nifty Weekly Time Cyle

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In the Weekly chart of Nifty, the index continues to consolidate near the support of the rising trend line. From past three weeks it made an attempt to break this trend line but managed to close above it. This is an indication that the bears and bulls are still not clear about the further direction for the index. I have shown 8 weeks 

Time cycle in the above chart which has worked very well to capture the reversal. After 8 weeks of completion markets have reversed the direction shown by Arrows up and down. At this juncture the 8 week cycle is over and market is ready for next move on either side where I have marked (x?).

 It is imperative for prices to break 10900-10850 levels decisively to change the bull trend into bear. Break of this trend line which is providing massive support to the index will accelerate selling pressure dragging prices lower.  

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