NIFTY; above 17,450 has given a strong bounce
Yesterday afternoon I mentioned importance of 17,450
Above it the zone of 17,650-17,800 would be critical
To take shorts with stop above 18,000 and Target below 17,100
Need to approach wisely!:

NIFTY; breaking 17,450 have neutrilised the short-term setup
This won’t turn the structure but indicates that yesterday’s low of 17,166 won’t break immediately
INDEX is going through a Zig-Zag consolidation which have a problem of Trading Holiday Tomorrow!:
NIFTY BANK also broke critical HARMONIC CHANNEL support yesterday
Its sell on rise till 39,000 for channel Targets of 37,800 and 37,100 INDICES ideally have to break August lows once followed by a lower high before the final turn on downside
This perhaps looks incomplete pen ultimate move !”

AXIS BANK is giving early indications of SQUARING PATTERN breakdown
Would confirm below a daily close of 728
Pattern Targets would be 703, and 677 on cash in coming days

NIFTY for very short-term have VIBRATION PATTERN resistance at 17,450
Setup remains very bearish for near term below 17,450
As long as it stays under it it can test 17,050 on downside.NIFTY BANK should increase pressure

RELIANCE; have its AGM in sometime from now
Before that the setup is equally poised
No strength exists as long as it stays under 2700 on cash
Pattern breakdown is placed below 2550
Not interested on longs so would look for it to sustain below 2550
Expecting it to break 2550 in coming days
And test 2450 and 2375 on downside

USD-INR: has printed 80 on spot today
When DXY has posted a new multi year high, it makes sense to take a look at currency markets! There is something very major going on currency markets!:
The manner in which DXY is going up can potentially re-shape structure of many financial assets
Technically this upmove in $ is nowhere near over
Would be an interesting times for EQUITY MARKETS!:
USD-INR has almost achieved all Targets above 78 which were shared on 9th,june! From here 79 would be a strong support
On upside would rivise targets to 83 and 85
The peaceful long trade on $ continues which started from February!”

NIFTY; got that BREAK-AWAY gap which was needed to push down prices; earlier had projected target of 17,100 on spot which is yet to be printed! Until that happens all rallies would be sold!:
On TIME front today’s low would be critical on closing basis; but more important would be 2nd,september, which would be a TIME SQUARING date this date would be falling after 19th,aug so holds greater significance!:

NIFTY TRADERS; are getting run-away GAPS; which are of no use! This market needs a BREAK-AWAY GAP to travel steadily on one direction! I already mentioned levels yesterday!”
I made my expectations very clear yesterday
Continue to hold that view! Recently I have been sharing only short-term levels but for medium term I am still very much BEARISH So just making that point clear!:
Many fellow traders have opposed my view very aggressively but I really cannot do much about that
We do not post views to satisfy the majority of traders!”
If you have a bullish view then go long, it’s as simple as that
There is no point writing lengthy messages in my DM, and sharing fancy charts
It needs good amount of confidence to share view publicly
Earlier I share my target of 14,400 on NIFTY spot! Which has been my minimum expectations since MARCH! As an investor I won’t put my money in this market until I see 14,400 on a screen near me!”
Retail Traders are manipulated; to concentrated on ATH, people are busy giving 19,000 and 21,000 targets
But won’t tell you what happens after that
Because these SOCIAL MEDIA TECHNICIANS does not have a road map for that!:
For many, june lows of 15,183 is a low which would never break
But TIME CYCLES have something else to say
But wait! No,budy is interested to know that!”
And when this cycle will end, no one would be left in market who have been investing on fundamental reasons
Let’s see who servives till then! Markets are always above anyone’s analysis
As Analysts and Traders we just have to keep following our process!”
In short-term there are opportunities on both sides, but for long-term the over-all structure for EQUITY MARKETS is HORRIBLE
Stay alert, or wait for markets to square you off for ever!”

NIFTY stretching this bounce as anticipated yesterday. 17,750 is a key level to watch. For a textbook reversal both on PRICE and TIME; NIFTY have to take out the high of 17,992 printed on 19th,Aug!:
If it fails to do; then level of 17,100 should come till 1st week of September. 2,days back I posted NIFTY would give a SQUARING PATTERN breakdown if it closes below 17,550 but that dint happened!:
As long as SQUARING PATTERN stays sideways; NIFTY would keep swinging both ways in this 3% band!”

NIFTY after taking support at 17,345 which was a critical support! Has given an orderly bounce
This may stretch further; but won’t sustain beyond a day or two!”
Gradually NIFTY would break yesterday’s low of 17,345 and would also break 17,100 key would be too managed trade keeping extra amount of TIME! FOR short-term trading setup remains sell on rise!: