$S&P;500; has been sustaining below (4,020) the level we discussed in our last review, which we did on 2nd,FEBRUARY !

We mentioned on a possiblity of a fake out move which took place above (4,101) and finally markets have confirmed that !

So our medium term view is still intact.
Recent PRICE action has been very sluggish but in our opinion this is a BEARISH consolidation which should result in further LOWS going forward !

We like markets which confuses the majority of institutional participants,
Things does get more intresting where street is equally divided on future Trajectory so far the decline from (4,195 to 3,930) has gone well with all participants !

There is no fear in MARKETS,
TRADERS are happy to buy this dipp
But we believe that wont be ann ideal thing to do !

because as per PATTERNS we recently got a (SQUARING PATTERN) breakdown on S&P cash ,
which can take it down till (3,760-3,800) in very short term,
Frankly it is short on TIME the fresh leg should resume anytime now may be as early as next Tuesday,
We are expecting test of (3,760) within MARCH,
Lets see,
upsides are likely to end under (4,060-4,100),

NIFTY is still consolidating nothing major have shifted in over all structure since what we discussed 2 days back. Simillar view stands for (NIFTY BANK) as well. Because we trade in quarterly OPTIONS so there is no such pressure of TIME to get Targets in immediate term !
We can wait for medium term patterns to play out. Since mid DECEMBER we have relied on short term TIME CYCLES to evaluate high intensity moves which mostly were on downside. We mark key CYCLE dates for that evaluation
we are getting 1,such date on monday watch out for a daily high and low of monday, a daily close below mondays low would trigger for a rapid and sudden selloff in markets. Things are balanced until that happens. (NIFTY) is on it’s way towards JUNE lows in 3 months TIME FRAME from here but there would be some temparary pauses, with VIX at 12 we are getting PUTS for penny and we are capitalizing on that !

ITC possibly peaked at 394 on 23rd,FEBRUARY, we are still waiting for certain levels to break to confirm that, PRICE wise we just require 1,lower low below 359 on cash and TIME wise 6th MARCH is going to be very critical, because it would complete 1 (TIME CIRCLE) on 6th MARCH.
A break of 359 would signal move towards 335 positionally and below 335 it can challenge its swing lows of 325.
We would have extremely bearish consequences below 325, but that will take its TIME, as an INVESTOR you must understand that, we are close to a major TOP here or we already have a TOP in place.
Once PRICES turn we shall witness massive downside in days ahead.
watch out.

NIFTY after achieving our short-term objectives is consolidating near its lows. Very unlikely that we would get a major upmove, just because (NIFTY) has been down for 9, consecutive days-that does not mean that we have got closer to any sort of BOTTOM in place !
Yes at best, we can see some recovery for a day or two which can push prices till 17,490 to 17,620 on spot, but that too would be an opportunity to create fresh shorts. TIME wise we will have major TIME CYCLE dates on 3rd 6th and 8th MARCH, 6th would be a major CYCLE date which would provide us key markers for price reference going forward. On downside we are likely to test zone of 17,000-17,150 which would co-inside with (HEXAGON) and (HARMONIC CHANNEL) Target and below that 16,850 and 16,550.
NIFTY BANK is more intresting so far it have saved 2023 lows we believe it’s just a matter of TIME before that lows are broken We have added shorts here for targets of 38,100 on spot.
U.S. MARKETS also have turned lower we should get major price cuts there in days ahead !

NIFTY as expected broke the BUDGET day low of (17,353) Today,
The manner in which (NIFTY) has broken down with (VIX) still under 16 is highly BEARISH and this also keeps MARKET significantly away from any meaningful BOTTOM !
PRICE have achieved it’s near-term objectives,
but TIME is still BEARISH,
even if we take very-short-term view then also CYCLES are likely to remain BEARISH at-least till FRIDAY.
price wise I,would be watching level of (17,320) on closing basis a sustained daily close below (17,320) will expand the range lower all-the-way down till (16,850) on spot,
all upsides must be utilized to to add or create shorts.
!

ICICI;BANK; should end its consolidation anytime now. In my review here on 30th,January I expected PRICES to consolidate above 760, the level was held and STOCK got a counter-trend-rally till 877, this should put an upword-ceiling going forward !

the next leg lower should resume now which should carry prices till 760 and 722 in days ahead. MARCH is going to be a very intense month for entire BANKING space. Once-2023 lows are taken down we are likely to witness exelerated decline in MARKETS. Need to manage risk wisely and select stocks based on their PATTERNS. Define your expectations and stay with the primary trend !

AXISBANK is under-going a medium term correction back on 19th,January I identified 970 a durable TOP which actually confirmed with a break of 900, on 25th,January it broke 900 and confirmed an ultimate TOP at 970 !

below 900 I had primary Target objective of 861 which was achieved earlier, next Target is 820 but the consolidation which happened recently have very BEARISH implication for this STOCK which can drag prices much lower in coming days, just a matter of TIME STOCK should break 820 and move swiftly towards 775 on cash there is greater significance of 775, would explain that once it goes there !

ABFRL gave a break-down below 251 on 27th,January and achieved 1st, (HARMONIC PATTERN) target of 231 today. Quiet slow, but still week, next it should test 216, view posted on 23rd,JANUARY !

NIFTY and NIFTY BANK are on there way down. Practically we will get a daily close below MONDAY’S low Today. So that will set MARKET UP-for-a-CRASH going forward !

We mentioned this earlier as well. In-fact if you have been following this space then this up-coming fall is something we have been expecting and we have heavy positions to navigate this fall. As far as Targets on (NIFTY) are considered 1st level we are watching on downside is (17,353) which we expect as early as next MONDAY !

below that (17,100) on spot. We already discussed levels on (NIFTY BANK) earlier. As far as STOCKS are concerned BANKS are very week followed by OIL&GAS !
We are expecting a broad-based decline there would be a point where nothing would work. We have been very clear with our medium term target of 14,400 on (NIFTY) which certainly is going to be achieved in coming months !

We strongly believe our study on (CYCLES) and we have maintained our BEARISH view even when (NIFTY) made fresh highs. Not an easy-job, to stand against the majority where accept (TIME CYCLES) every thing else was BULLISH. Another argument we keep getting is, when everyone is BEARISH will MARKET actually fall? People have their own criteria to measure that how many on street are BULLISH and how many are BEARISH !

Some even call it a part of (SOCIONOMICS) but as a student of (GANN) we are not allowed to take that seriously, we only have to follow CYCLES no matter what the majority thinks, everything in this planet unfolds in a certain manner and (STOCK MARKETS) are no different. Only point is your calculations has to be correct. So do keep this point very clear !

NIFTY broke 17,844 yesterday so PATTERN has been bursted. PRICE have turned lower now once (MARKET) gives a daily close below yesterdays low (TIME) too would turn lower !

“NIFTY BANK also have continued its decline” projected path here would be 39,500 on spot. Should be a gradual move towards 39,500 furious fall is expected below 39,000 !

For (NIFTY) next major (CYCLE) date is on FRIDAY which would be 4X1 ANGLE DATE from DECEMBER high. As we have pointed out multiple times in past that, INDIAN MARKETS are in a down trend and we are in early stage of this down-trend at FEBRUARY lows we just completed a primary part of over-all (CORRECTION) the rally since 1st FEBRUARY is only a retracement of entire decline which started from 18,887 !

which at recent high of 18,135 completed exactly 50% retracement which is a normal pullback now once we get a daily close below 17,818 which is yesterdays low. We would be in for a precipitous decline in coming days. watch-out !