NIFTY is down but not convincing yet until level of 17,844 is held on spot. 17,844 is a rising VIBRATION angle from recent lows of 17,353, so break of 17,844 would break the PATTERN and turn the PRICE lower !

(NIFTY BANK) is shade weeker then (NIFTY). It have broken below recent lows, print of 40,950 on spot would signal test of 39,500 and once 39,000 breaks move towards SEPTEMBER lows would be very swift !

TIME wise next week is very important specially MONDAY and FRIDAY a daily close below MONDAYS low would set MARKETS up for a crash. We dont want to use that word, but that is how things are shaping as of Today !

Watch-out for U.S. MARKETS as well, S&P would complete very important CYCLE rotation from AUGUST highs and OCTOBER lows TOdAY. This will co-inside with OPEX, price wise we are closely watching 4,050 on S&P cash !

USD-INR is consolidating since the month of (NOVEMBER) in our last review here on 20th,OCTOBER we achieved our PATTERN objective of 83 but missed the print of 85 after testing 83 this pair went under long and lengthy corrective phase !

Going forward to come out of this consolidation (USD-INR) have to cross 83.20 on spot. Above 83.20 we will get a clean breakout which would take us towards 83.50 and 87 in near term !

Our long term objectives here is above 91, will take TIME but should eventually test that. Good part with FUTURES is we can wait till our Targets are achieved. Since we have carried longs since FEBRUARY 2022, and we would continue to carry this trade atleast till end of this year. So watch-out for 83.20 from here !

NIFTY have inched higher holding its supports, running towards the resistance of 18,201 now. It’s very obvious to us that, this is not the start of a new trend on upside. NIFTY is just retracing the portion off its earlier decline which started from DECEMBER !

We have been sharing levels for short-term setup for (NIFTY) earlier it was 17,720 from here it would be 17,844 on spot. As long as it holds we dont want to front run in suggesting next leg lower !

There are pending objectives to be completed on downside which certainly would be full-filled but there is no hurry for that, we are not short on TIME. From next week we have 2 very strong CYCLE DATES which would be on MONDAY and FRIDAY dont want to go in detail why these dates are important. Watch out for these dates next week !

NIFTY still needs a daily close below 17,720-the level we discussed on FRIDAY. Yesterday (NIFTY) tested that and came up back in its range. There is nothing happening on PRICE front for now and until (NIFTY) gives a daily close below 17,720 and print 17,620, theoretically no action on downside can take place !

Things are quiet on PRICE-FRONT but there has been good action on TIME-FRONT
tomorrow we have a (HARMONIC CYCLE DATE) which would be 2nd,most important date for FEBRUARY, intresting part is this would co-inside with the reaction which MARKETS have to give after U.S. CPI data which is due today evening !

“In case NIFTY reacts positively TOM, after CPI, then also it wont be a BULLISH sign any UPSIDE is likely to face very strong resistance at (18,201). Lets see, how MARKETS reacts, critical day Tomorrow !

NIFTY is likely to make its move early next week. This struggle could well resolve on downside. Watch out for 17,720 on NIFTY spot, once we get a daily close below 17,720 this consolidation phase would end !

PRICE PATTERNS would turn only below 17,620, once we get a close below 17,720 price levels should break. Until that happens this market would stay this way, very unlikely that NIFTY can take out 18,000-18,200 zone which we have discussed multiple times.

NIFTY navigated the CYCLE dates staying largely flat. Now it makes things easy for us to analyse the setup using TIME. A daily close below 17,652 would turn TIME BEARISH atleast till 17th,FEBRUARY. Last Friday we discussed on CYCLE DATES.
As far as PRICE is concerned, that too is consolidating with-in the range of 1st,FEBRUARY high and low. We believe NIFTY is likely to break this range of BUDGET day on downside. Today is RBI POLICY so there would be a reaction post POLICY.
If that reaction breaks the zone of 17,571-17,611 that would be a compelling indication that downside have resumed. Holding this zone would keep (NIFTY) out of woods for now, on upside strong resistance continues to be at 18,000-18,200 on spot.

$S&P;500; went above DECEMBER high which have made PRICE setup quiet complicated, earlier we gave less probability for S&P to trade above 4,101 which was the high of previous quarter but does the break of 4,101 confirms start of fresh BULL MARKET??
well we have discussed internally alot on this matter. We again went through the entire process of our long term forecasting model reviewed all CYCLES from 1901 and at the end came to the conclusion that CYCLE Low has to be in 2023, not in 2022 and there are no alternates for this condition. So BEAR MARKET is still not completed because (TIME CYCLES) are yet to complete their rotation. Hens no matter PRICE have gone above critical resistance but this has not been supported by TIME, so this can well prove out a potential fake out, but we would keep a watch on that. In our review here on 19th,january we focused on 2,points,1, a daily close below 3,888 and 2, break of 3,850, both things din’t happenned.
So market dint gave that indication of throw over. Going forward level of 4,020 holds the key. Once S&P gives a close below 4,020 our objective of potential fake out would materialize in coming days. We still continue to hold our view that OCTOBER low of 3,491 on S&P is not a CYCLE low. There are Lower Lows required to complete this BEAR MARKET, let’s see how CYCLES overtake Technicals may not take much TIME. U.S. 10,Year YIELDS have signalled next leg higher, and $ too have rallied from 101, would be intresting to see how this impacts EQUITY MARKETS!

SBI ended the ultimate euphoria very badly. What suddenly happenned that, 50% of entire rally from 2022 lows disappeared in matter of few days. During its upmove in later part of 2022 I posted multiple times that, entire rally was absolutely deceptive specificlly from SEPTEMBER low, it was about to end badly and it has ended badly. Going forward, the rally from 499 is only a counter-trend-rally, which in normal conditions is likely to end under 580 on cash. Staying under 580 is extremely BEARISH sign and that also keeps PATTERNS on sell side for possible Target of 491 in coming days. TIME wise (MARCH) is big month here.

NIFTY; with rest of other MARKETS would face a test of TIME next week. On 6th february we have (VIBRATION DATE) and on 7th, we would have (HEXAGON CYCLE) date. Basically the low of 6th would be important for all MARKETS since we are looking for other GLOBAL MARKETS to join us on downside. If other markets keeps going up 1-2% on daily basis then for (NIFTY) it would get tough to make fresh lows for short term atleast. At best it can stay in a range for now.
NIFTY continues to have strong resistance closer to 18,000-18,200 we still prefer to add fresh shorts on higher levels for downside Targets of 17,150 and 16,855 on spot.

INDIAN;HOTELS; will have Interception of (PRICE) and (TIME) next week. TIME wise it will hit 2×1 ANGLE from its TOP which it made on 11,11,2022, not only that it will also complete 1 cardinal rotation from NOVEMBER high on 10th,FEBRUARY, so next week would be very critical for this particular STOCK.
PRICE wise we have (VIBRATION PATTERN) break down here, also it broke a HORIZONTAL ANGLE from its TOP of 349, that level comes at 310 so basically PRICE should test next level which comes at 271 on cash.