KOTAK;BANK currently have a weakest technical structure in BANKS. The entire upmove from OCTOBER is not at all Trending, what’s happening since last 2 months is only DISEPTION which most probably have ended. Now what I am saying would hold true,
When MARKET starts to decline with higher intensity. And it corrects the entire upmove which started from JUNE lows. Eventually we would go there, but people will realise only when it actually goes there.
There is a difference between going short and not going long. I stopped going long from NOVEMBER 9th, really don’t mind missing few 100 points, now we are short waya MARCH puts. I have a certain plans to carry on with such TRADES. Coming back to KOTAK now.
The upsides till 1,900-1,920 should be utilized to add shorts. But if it breaks 1,820 this decline will enter in its next stage which would suggest Targets of 1,756 and 1,696 on cash in coming days. TIME is neutral as of now but on edge for a turn on BEARISH side!

NIFTY is down finally, not to get over exited yet. Trading profits is a different game, but broader structure is yet to damage to the extend which puts us in a comfortable position to project deeper Targets. NIFTY BANK too has started to participate on downside but we still would like to see that breaking 42,900 which is very critical TIME wise. For NIFTY HEXAGON breakdown is placed below 18,000 which puts it back in very week position.
Until this happens overall structure for NIFTY continues to stay (sell on rise). I have been sharing the step by step process for a Larger reversal, and we are getting those conformations one after another. Still we await few things.
Once everything falls in place, markets would validate everything what I had been posting since last 2 months. Let’s see.

$S&P;500; has finally ended the counter trend bounce which got started from OCTOBER lows. It came of from 4,100 the level which we discussed in our last review. Took bit long, but eventually things are falling as we have been expecting.
We have now re,entered the voletile phase again for global financial markets. Volatility is back which was the missing factor since last 45 days. Going forward we would still like to see, S&P; cash to break 3,840 which would open,
Ways for 3,751 and 3,651 in near term and gradually towards the OCTOBER low of 3,491. As I alerted several TIMES in past, OCTOBER low is not the durable low! Going forward markets may materialize that point.
My target had been closer to 3,260 but the way patterns are sub dividing I may have to move that on lower side as we progress further. Yesterday $DJI and NASDAQ have broken their PATTERN supports, so markets seems set to role down broadly.
Even if we see, GOLD and SILVER that too have turned lower ideally should test quarterly lows in few weeks. DXY also have posted an event low at 103.45 going forward it shall hold that and go back to 107.50 in few days. Everything has aligned, let’s watch!

TVS;MOTORS is going through the process of SQUARING out its TOP. Setup is week here. As long as it stays under 1,050-1,080 it’s in weakest possible position. Matter of TIME, THE low of 9,86 ,Should break and prices should print 945 in coming days. Once it breaks 9,30-9,45 we may see much deeper correction here. Already initial signs for that are visible, let’s see how this shapes up!

TATA;CHEMICALS is breaking down below key levels. Accept CIRCLE breakdown All patterns have given BEARISH cross over. CIRCLE too would give that final breakdown below 9,60-9,80 zone on cash. Till then it’s a sell on rise setup, For Targets of 930 which would complete a CHANNEL, AND a daily close below 9,60 would trigger a CIRCLE breakdown which shall signal Target of 8,70. Watch out.

NIFTY is testing patience but the weakness continues to persist. So this consolidation is unlikely to result in further highs. As I have been highlighting that: (NIFTY is week because it has broken PATTERN support of 18,480 on Last Friday).
But MARKET is holding on, PRICES are not breaking down. Reason is NIFTY BANK which we have been discussing from MONDAY. MOMENTUM would pick up once when NIFTY BANK begins to Participate on downside.
Multiple BANKING stocks which are part of NIFTY BANK are completing their PATTERNS. Specially PVT BANKS accept HDFC BANK have already Turned lower. In PSU BANKS SBI is in its final stages of completing this deceptive rally.
So it’s only the matter of some more TIME from here. Official conformations would come only if it closes below the low of 9th,DECEMBER. As long as that does not happen continue to control taking trades on BANKING stocks.
On NIFTY we are short, just had to hedge those trades due to EVENTS. Need to keep that extra time if you prefer buying OPTIONS. Rest it depends on MARKETS, how much more TIME it needs to come lower!

NASDAQ;COMPOSITE have a tricky structure, before line of events which would take place in next 2,days. The high of 11,546 is slightly below a PATTERN level. Although NASDAQ is the weakest U.S. INDEX it holds greater relevance, for next leg lower.
For very short term there is a bullish possiblity here, only if it holds 10,780. If it holds 10.780 then it would attempt the final high for this rally which could be above 11,771 which also would complete the HARMONIC CHANNEL, and once this is done, MARKET would then resume its decline.
But if it breaks 10,780 then all BULLISH probabilities would vanish. Then it would break OCTOBER lows, without taking much TIME. MY medium term projections here are: 8700-9100 within MARCH 2023. Well this is that typical market which is taking accessive TIME to move. The END outcome is clear, that 9,100 is certain. But only point is, whether this rally has ended or there is 1 last push higher pending on upside, before things roles down!

NIFTY still lag that support from NIFTY BANK. MARKETS are again painting simillar picture, of holding the low of (TIME SQUARING) DATE on closing basis, and trade sideways. Just consuming more TIME. Let’s see how long this continues.
NIFTY is week but NIFTY BANK is not. Highlighted this yesterday as well. Critical events due in next 2 days, better to hedge trades using weekly CALLS, and let markets navigate these events.
The INTER-MARKET diversion between NIFTY and NIFTY BANK cannot last beyond a certain point. Some one have to give up. Let’s see how things goes. Better to protect trades and watch things play out.

NIFTY has given a VIBRATION PATTERN breakdown below 18,480 on Friday. So we have that primary indication for things finally Turning down. BUT we still require participation from NIFTY BANK, because NIFTY is clear With its week structure, but NIFTY BANK is yet to conformed things. 42,900 remains critical level as we discussed earlier. But before that it has to give a daily close below 43,361 which stands the low of (TIME SQUARING) DATE.
Same goes for NIFTY a daily close below 18,410 would add more weakness to current setup. Since we are anticipating major turn lower so we do require these step by step conformations. So far what we have can only take us to 18,200 but as we progress this level should move lower!

RELIANCE mostly have SQUARED out its PRICE with TIME. In our earlier review on 30th,NOVEMBER we discussed the zone of 2750-2786 as possible SQUARING OUT area. TIME wise we were closely watching Dates of 1st 2nd and 5th,DECEMBER. That is where multiple CYCLES got completed. And just around that, RELIANCE made high of 2755 which was within projected PRICE zone. We also got anticipated reversal and it has been a decent decline from highs within few days. Going forward RELIANCE may consolidate here before next move on downside. The next move would trigger below 2550-2570, on cash for PATTERN targets of 2495 and 2435, watch out!