MARKET UPDATE

Market Note: When the Noise Fades, the Market Speaks
Markets often move the least when everyone is waiting — and move the most once the waiting is
over. With the Bank of Japan meeting now behind us, a major source of global event risk has been
cleared. The absence of stress across currencies, bonds, and global equities is a signal in itself — the
market has absorbed the event and is now free to focus on structure.
For Nifty, this shift is important. The index has spent several sessions locked in a well-defined
congestion zone around 26,040–26,060 on spot. This is not random price action — it reflects
compression, patience being tested, and energy being stored.
With headline risk now reduced, the probability of Nifty attempting to resolve this congestion zone on
the upside improves, provided there is acceptance above the 26,040–26,060 band. The market finally
has room to respond to its internal setup rather than external noise.
What adds further weight to this view is the time element.
Next week stands out as significantly important on the time front, based on ongoing Gann cycle
studies. Extended consolidations often resolve when price and time align, and given how tightly Nifty has
been compressed, the market appears close to such a junction.
Key observations remain disciplined and clear:
• Broader structure remains constructive
• Momentum has been delayed, not damaged
• Event-driven uncertainty has eased materially
• Time is now stepping into a more active role
If acceptance above the congestion zone emerges, the index may finally transition out of this frustrating
sideways phase. If not, risk remains clearly defined — and clarity itself is an edge.
Closing Thought: When markets stop reacting to news, they start revealing intent. With event risk
behind us and time turning active, the next phase may arrive quietly — but it is unlikely to arrive
small.