NIFTY is in midst of a very critical week according to TIME CYCLES,
we discussed on it on FRIDAY.
So far we have seen volatility picking up,
also NIFTY making fresh highs,
and BROADER MARKETS selling off very sharply on Tuesday.
Today also is a key CYCLE date so for extreme short term MARKET should avoid a daily close below todays intraday low.
Beyond short term,
this weeks low would be extremely important for overall MARKET structure.
We allready discussed the importance of this week on last friday.
Above this weeks low things are about to stay strong particularly for NIFTY.
For MIDCAPS and SMALLCAPS yesterdays low would be key.
holding yesterdays low,
both INDICES could make fresh higher highs above 41686 and 13079 respectively.
and that possibly would be the final high for 2023 and also better part of 2024.
The rally in BROADER MARKETS is approaching its final stage.
For NIFTY earlier we never said that 19991 is a major TOP,
we always emphasized on the word (pullback) which we were expecting to test 19140 and 18975 but it ended slightly above 19140.
Global markets have been very calm lately,
S&P have protected 4430 so far,
so there are no challenges for NIFTY,
If 4430 breaks then better to check long trades on NIFTY.

PETRONET;LNG; is looking strong,
Infact entire ENERGY sector is breaking out on larger scale.
For PETRONET any dipp towards 240 zone would be an ideal entry point for targets beyond 272 and 298 on Cash in coming days.
This setup is very much simillar to MANAPPURAM or UBL which we analysed in JUNE and JULY.
both STOCKS have been doing well since then.
For PETRONET just to make sure STOCK is in a strong uptrend it would require fresh calender highs after 21st,SEPTEMBER as well.
This would eliminate the case for any sort of consolidation.

NIFTY takes out 19,800 which stopped us out from our short trades.
In AUGUST we utilized this RESISTANCE zone multiple times and ended with profits everytime.
This time it dint worked out,
which is fine.
NIFTY has been veryy resilient during this week,
which has resulted in cross asset mislocation,
We suspect if global markets continue with their correction,
NIFTY could give away majority of its recent gains.
We are watching 4430 on S&P and 106 on DXY Quiet closely,
Once these levels are broken convincingly we could see very sharp reactions in global EQUITIES.
As far as going long is considered,
we prefer to trade STOCKS like GAIL and UPL for upside returns of 6 to 8% in short term.
NIFTY for us is a hedging Instrument which we use differently.
Hens we gives less preference to it on long side.
TIME wise we discussed earlier that 4,cycles are aligning for NIFTY from 31st,august to 6th,september,
Since NIFTY bottomed on 31st,august that low would be extremely important going forward.
Infact for very short term yesterdays low also would be important.
Next week we have 2 CYCLE dates for whole market.
1 is on 11th and other would be on 14th,september.
Not only that next week INDIAN MARKETS would complete 25,weeks from MARCH 2023 low 64,weeks from june 2022 low and 180 weeks from march 2020 lows.
So things wont be that easy.
Another exiting week awaits us.

NIFTY certainly is on edge on an expiry day, things could well set for a crazy last hour move on either sides.
We have consistantly emphasized that strongest resistance for NIFTY continues to persist in zone of 19600 to 19800 on spot.
We have yet again entered in that resistance zone.
Let’s see how things goes.
So far NIFTY has been resilient against the sell off in global markets.
Can it stay this way? Need to see.
For a complete REVERSAL NIFTY needs to close above 19800 and also have to print 19883 as long as we stay under these levels,
We prefer to stay with the primary plan.
Levels are so nearby,
Hens the risk has to be managed.

VOLTAS is preparing for a CHANNEL breakout,
a daily close above 910 would conform that,
a daily close above 910 would aline short and long term setup in extremely BULLISH shape. STOCK today have given a PATTERN breakout which have target objectives of 950 in near term.
CHANNEL target here is 1044 which will take TIME to achieve.
Overall an ideal setup to chase on long side,
waya cash.

NIFTY is again knocking that resistance zone.
During past 4 weeks this has been an easy trade to pick.
Once again we would look to repeat that process.
The market still lacks a ferm momentum.
TIME wise we are ending the cluster of CYCLES Tomorrow. What these CYCLES have done is,
they have provided us a clear low at (19,233) Going forward that low has to go for a TIME breakdown.
Frankly we were expecting it to break with a gapdown but so far that has not happened.
Lets se,
There are no changes in PRICE setups yet.
that is still indicating to sell rallies near 19600 for targets of 19233.
This time it wont stop at 19140 below 19200 something major could unfold,
Watch out.

TATASTEEL today printed the level of 132 on cash after a long wait.
We initially expected it to rally for fresh calender highs above 124,
Took positions here on 24th,july,
just before its results were about to declared.
We also mentioned 107 as a very strong support here holding which print of 132 was guaranteed.
TIME wise we were expecting a higher high above 124.30 till 8th,AUGUST, it almost went there but missed by a penny.
going forward a daily close above 136 could extend this rally till 147 in next few days.

NIFTY needs a gap-down to break through the zone of (19,200) and we are expecting one till 6th of SEPTEMBER.
TIME wise we are in a very intresting zone as I highlighted last time.
Based on that, its ideal to expect a trending move in coming days.
There is a very intresting data point to note,
NIFTY since 2013 have not given 6,continuous negative close on weekly time frame.
We already have 5,negative weeks this is 6th and let’s se where we end this week today.
MONTH of AUGUST for NIFTY was the narroest month in terms of swing measured in % terms,
quite interesting,
SEPTEMBER most likely should be a moving month.
Not only for INDIA next week is important for U.S. MARKETS too.


Thee bounce in U.S. has exceeded slightly higher but I think it may not sustain here for long.
Let’s see how things goes next week.

NIFTY is still doing (BACK&FORTH) within that narrow Trading range.
Nothing really to get exited about, for traders betting on either sides.
On 22nd of AUGUST I posted that NIFTY do not have any significant CYCLE date until early SEPTEMBER,
and since then we have seen NIFTY trading on south of (19,600) and north of (19,200).
PRICE failed to build any sort of TREND on it’s own.
Hens we require TIME activity to pick up from here.
and that activity is likely to pick up from TOMORROW.
From 31st,AUGUST to 6th,SEPTEMBER there are 4 major CYCLES aligning together which would easily push MARKETS out of consolidation.
Such alinement of TIME CYCLES is about to happen for the 1st time in 2023,
infact whole month of SEPTEMBER is likely to stay very volatile.
During late JULY I repeatedly mentioned 1st,august as a very critical date.
that CYCLE as we all know stopped the rally, this CYCLE which starts from tomorrow could possibly break through the supports.
Lets see.
No changes In PRICE structure yet,
19600 is still a sell zone for targets of 19140 and 18975 on spot.
Make sure you are adding fresh trades closer to 19600 not closer to 19500.
VIBRATION and HARMONIC PATTERNS are signaling lower lows ahead.

SBIN; is an intresting STOCK to study for all CYCLE ANALYSTS not only to understand the structure for the STOCK itself but also to understand the structure for MARKET as a whole.
Plenty of times in past,
I have mentioned that dispite (NIFTY) moving higher there are certain STOCKS which are not showing signs for a CYCLE breakout.
Hens I have been very scepticle on calling for a fresh CYCLE breakout on INDIAN INDICES.
NIFTY BANK already have ruled out that possiblity,
NIFTY too should follow,
but for now we are waiting for 1 particular level to break on downside.
More on that later,
For now I dont want to assume anything.
Let me highlight one more point here,
There are 2 stocks which did not printed fresh highs.
1, was SBI and other was RELIANCE,
strange isn’t it?
Both the STOCKS are extremely important for INDIA as a country.
Meanwhile lets get back to SBIN now,
Starting from the TOP,
the decline from 629 to 499 lasted only 48 calender days,
just 48 days…
since that low the stock have completed 209 days and that high of 629 is still intact.
I dont think after multiple failed attempts that high will cross now.
So that makes it an ideal sell on rise candidate,
all upsides till 590 should be sold for PATTERN target of 529 on cash.
TIME wise 2nd week of SEPTEMBER very important here.