NIFTY some how managed to protect lower band of its support zone yesterday. The zone was 17,000-17,170 on spot. This was shared on Monday. Going forward this zone still would provide decent support in near term. On TIME front Today is the most critical TIME CYCLE date which would hold greater significance. A daily close below Todays low would end the rally and momentum on upside. Sooner or later that’s going to happen but until that takes place prices would show a different picture. Our view has been bearish so we would wait for prices to turn as and when that happens we shall initiate further trades. Next week would be HARMONIC WEEK for NIFTY so voletility could increase dramatically. The SQUARING PATTERN on NIFTY HAS Been unusually wider then normal. So expect volatile moves to continue until this pattern settles. A wide squaring pattern and a HARMONIC next week would make markets very uncomfortable. So Trade wisely..

RELIANCE. Has set up a classic trap which would be remembered for Long Time. Price is just not showing the actual reality. The current leg on upside has not been supported by (TIME CYCLE). Exactly a month back we shared our bearish outlook here: and suggested Target of 2150 on downside. After that it went to 2180 and gave the bounce. So the Pattern is still incomplete. Going forward we still maintain bearish view on this stock for medium term. But with a slight change. Instead of 2150 we would revise our Target at 2060 on downside. Which co-insides with a channel support and 45° Angle in its Geometrical circle. Targets should be achieved in couple of months. Should not be in hurry to go there. For near term 2390-2410 is HARMONIC+VIBERATION support: which would be broken in Coming days. So watch out.

Critical week for MARKETS. Today is Equinox so that’s Important. But more Important date is 23rd,MARCH. Watch out for 23rd,MARCH low on STOCKS and INDICES, A close below 23rd low would sincronise the PRICE with TIME on downside. NIFTY is Trading in zone of 17,250-17,450 This zone is a tricky zone. Just like U.S. MARKETS: NIFTY also Intends to experience a Price rejection which once get completes would make things nasty for Investors. Price rejection is more destructive pattern then a Range breakdown. So do watch out how it would unfold in coming days. For very short-term 17,000-17,170 would be a support on spot. Let’s see how long it takes for markets to break it’s near term supports. We still have preserved our move to add more shorts. Yes we exited hedged calls which protected us during this pullback. We still would look to edgest our trades if NIFTY goes above 17,450 on spot.

$S&P 500 possibly could test the zone of 4,550-4,625 on higher side in Coming days and then break 4100 on downside. Once rejection takes place it’s not going to hold on at 4,100. I do have similar price levels for DOW and NASDAQ: but for now sharing levels only for S&P 500. That looks very clear to me. U.S. MARKETS probably wants to experience a Price rejection before breaking down. A breakdown is imminent but for now markets just want to Trap few more bulls before it actually Turn its wheels down. Other developed market accept HK should follow the projected trajectory which has been shared for S&P 500. Including (MIFTY) So watch,out how it unfolds. Understand the ratio between upside and downside. Rest it’s always an Individuals call.

NIFTY is completing best possible Targets for this extended pullback. That’s easy to say that we have Hedged our shorts so this weeks upmove has not hurted us much on M-TO-M basis. But we do not hesitate to accept that it has went pass all our expectations just to protect our trades from such sharp upmoves we had decided to hedge our Trades. These are TIMES where your patience and faith is tested on your Trading System. Particularly if view is based on TIME CYCLES then it doesn’t changes watching the price. Because price was never in the equation. TIME have it’s own speed which stays constant so it’s the price which has to aline. In simple terms in directional trades it’s always the TIME which is reliable over price. For now you may find it tough to understand. Wait for few weeks you may get my point. We all are here to stay. Would again like to re-cal what I said on Monday. (Prices may pretend that they are reversing but actually the fall is far from over) Standing Today it takes good amount of courage to say that the low of 15,671 on NIFTY is not going to hold. Whether that breaks in 3 weeks or 6 weeks that’s the only question. But that’s breaking. Our primary focus has always been on weeks and months, we are not interested in days for now. We shall focus on dates starting next week. Because in next week we have multiple TIME CYCLE dates. Specially 21st and 23rd March would be very important. As far as price is concerned better to wait for stability after back to back gap-ups. On stocks also we would wait until vibration and harmonic supports are broken. We plan to add another lot on short side closer to 17,400 on spot. But would wait till next week. Tom anyways is a Trading Holiday.

NIFTY broke 16,570 yesterday and gave an Indication to come out of longs. So as per pattern longs were squared off. Even after Todays gap up it makes no sense to re-enter longs again. 16,850-16,950 is a strong pattern resistance, mentioned on it on Monday as well. Above 17,050-17075 there is a high risk long trade which can take NIFTY towards 17,210 on spot.,. We need to deal with an event tomorrow so voletility is an critical factor. VIX above 25 is not going to make life easy in short-term. More you analyze this market in short-term time frame more complicated it could get. So view the setup in monthly time frame. Markets globally are cross-correcting the extreme reactions especially in Commodities. Particularly in OIL. So this should be considered as a reaction not a reversal. What’s happening in U.S. MARKETS is even more Intresting. The Zig-Zag moves in NASDAQ is signaling a silence before the storm. 2% down 1 day and 3% up in next day. Such moves often results in significant correction. No matter in short-term how far this market goes. Eventually this should end up breaking its supports. Not in a hurry this time. Yes markets are manipulative But any manipulation is only limited for short-term. At best fall only can be delayed, but cannot be escaped. That’s not possible.. that’s the only reason we have hedged our short trades. We are going to continue for next few months.

Tomorrow is an Ordinary Pattern date so conservative traders should go light overnight. 16,800 17,075 lightly markers for tomorrow if there are no Significant gaps either sides. Go easy.

INFY looks Intresting. Near term support is placed at 1810 which once breaks opens up Targets of 1755 and 1700 on cash in coming days. Won’t be a smooth slide but below 1810 (VIBRATION PATTERN) would indicate weakness. On Higher side strong channel resistance is placed in zone of 1920-1940 for now it looks tough for INFY to cross and sustain above this zone. For now it may look like 1670 is sort of double bottom. But according to our Forcasting model it should again re-test 1670 in Coming weeks. And can make fresh low for the year. We are expecting it to break 1640 and once that happens, Gates for 1540 and 1425 would open but firstly 1640 has to break. Which should break as per our understanding. Pls note the view is directional so nothing happening overnight. We expects fresh leg on downside could be led by I.T. sector. Let’s see how it goes.

NIFTY price Pattern supports have now shifted Higher from 16,400 to 16,570 on spot. Once 16,570 breaks, short term long trades should be out of system. nifty is at critical pattern resistance so do watch whether it breaks or not.

Last Friday we mentioned on Price Pattern support on NIFTY. For now that stands same.. on TIME front this week we have 2 TIME CYCLE date 1st is Today which is a HARMONIC DATE.. And 2nd on Thursday which is aN ordinary Pattern date. Major TIME cycle dates are due next week. Which would have significant Impact on Financial Markets. We would continue to share short term levels on NIFTY but Today let’s discuss the broader setup in case the pullback extends further. NIFTY have a strong pattern resistance in the zone of 16,850-16,950 on spot. If in case this zone gets crossed then this pullback would extend further till 17250-17,450. But this move won’t be supported by Larger degree (TIME CYCLE). So the moral of the story remains same. Any upmove or rally is subject to selloff. No matter how far this pullback goes, that’s certain that it is going down. Or rather I should say it has to go down to complete its Targets. The reason of our conviction is our (Pin Point Study) of Past Cycles. During the weekend we had reviewed our bearish stand on Markets. And after our detailed analysis we still maintain our Bearish Outlook and downside targets of 15,500 and 14,400 on spot. 1st Target should come in Coming weeks and 2nd,Target should be achieved in Coming months. We are not going to change our view watching the Price fluctuations. Yes in any analysis there are margin of errors but with TIME ANALYSIS there is no space for any if or a but. It has to be exact. And as an Analyst, especially who follows (Gann Theory)
You have to be very clear with Market direction. There would be many who might change their stand based on sentiments and news flows. But our view have nothing to do with any news flow. In case all issues and problems are sorted out under the SUN markets still would go down and complete our Targets. Definitely we do understand the thin line between confidence and over confidence. So just to protect our Short Trades we have hedged our Futures Trades using Option. For NIFTY it’s just not possible to protect recent low of 15,671 made on 8th,March. Just a matter of TIME this level should surely break. Prices would pretend that its reversing but this fall is still far from over. It would be very Tough to Trade this market for retail traders: but anyone who stays with the ultimate direction is going to make good money. These are rare opportunities in a Traders Life, but if you manage your Trades wisely you may have a memorable experience to trade a (TIME PATTERN) breakdown. You may see things with more clarity 3 or 4 months down the line, when the majority of damage would had happened.

NIFTY is respecting its Price Pattern support of 16,400 on spot. Let’s see when this level breaks! Price and Time would coordinate on downside only below 16,400. Just a matter of time price should break. But until it actually breaks we are hedged for impulsive moves. NIFTY still have to close yesterdays Gap so do watch out interesting next week coming up. Play safe.