$S&P;500; seems starting its next leg on downside
Whatever comes out from FOMC meat tomorrow, trend is certainly going to turn south
After initial volatility, U.S. MARKETS looks set to turn,down sharply lower
On S&P, my long pending Target is 3540 which I have shared multiple times in past
In upcoming fall, I expect S&P, to test this level
My actual targets are way lower below 3540
But for now going step by step
The TIME degree in which markets across the world are in for the rest of this year is certainly going to thrill many Traders
Fresh lows are certain, but 1 rally is also due which would be very, very, destructive
More on that when I see that coming
But for now let market correct, and as Traders enjoy your shorts
Everything so far has happened as per NATURAL LAWS, Dont, fall for pointless fundamental justifications

NIFTY, have to close below Fridays low, to turn the short-term TIME CYCLE Bearish. On PRICE front NIFTY have PATTERN support at 16,380 on spot. We are at the last stage of this bounce, whether the top has done at 16,752 or there is 1,more higher high pending, that depends on whether the pattern support holds or not.Ideally I expect, all these criteria would be obtained in next few days
The ultimate TIME test would be on 29th,july and 1st,august
Which co-insides as next VIBRATION DATE and HARMONIC TIME CYCLE date
This extended bounce was triggered by HARMONIC CYCLE, On 18th,July
When NIFTY broke 16,276
After 2,positive cycles
3rd,cycle cannot be positive
Sentiments has turned positive after this rally
Historically this is the best time to dicieve The majority
Let’s see how this plays out

NIFTY BANK
Setting up a perfect Trap
Retail traders forget things very quickly
There is nothing new under the SUN
These traps happened in past
Certainly would happen in Future as well
Doesnt mean we go and buy them
I always prefer to buy options
Would consider SEPTEMBER PUTS
1 point which gives me such confidence is the MASTER TIME CYCLE
Which is signalling extreme bearishness going forward
There is no bullish case as far as TIME is concerned
So sooner or later PRICE have to aline with TIME
I am not willing to give 500 or 1500 points of Target
This TIME I would share only 1 Target
That’s 32,155 on spot
Yes for now keeping options open for 38100 for this pullback
It may or may not test 38,100 but I want to keep options open to add shorts
View, narrative and structure would remain bearish
Because it’s based on TIME
I maintain my long standing bearish view on BANKS
LAST week I posted bearish view on few stocks
From which KOTAK and ICICI dint gave sell conformations
HDFC remains week
And on INDUSIND it missed Target and was stopped out earlier in week
AXIS also wasn’t promising on downside
This rally is coming to the point where it is inviting us to challenge it
Sounds crazy but I would do it happily
Managing my risk
Would add shorts
Let’s see

NIFTY, has crossed 16,660 which I shared earlier as HEXAGON level
Now NIFTY has to break 16,200 to confirm the HEXAGON breakdown
For the Targets which were shared earlier
Since today is the VIBRATION date
A close below todays low, whatever is made during the day would make TIME CYCLE bearish for short-term
Anyways As per HARMONIC TIME CYCLE, NIFTY, is likely to find the Top for this bounce next week
No point projecting price focus is mainly on TIME
U.S.MARKET
Too are completing price objectives for the counter trend bounce
Intresting to watch from here
As an INVESTOR dont get carried away with this bounce on NIFTY
Even if it goes towards 17,000 then also structure would remain bearish for medium term
That is not going to change

RELIANCE seems completing its counter trend bounce objective of 2560-2620
Todays high so far is not enough
Needs to go little bit higher to put us in a comfortable position to go short once again
This time Targets would be 2100
But would take time
Few patterns do take time to play out
So need to have patience for that
Would watch RELIANCE closely
Few judgements has to be taken in real time
Let’s observe how far it goes

NIFTY have next TIME test on Friday
Explain in detail yesterday
No point discussing same points again
For short-term cycle to turn down markets have to close below a VIBRATION DATE low
Nearest VIBRATION DATE for this market is on Friday
So till then this rally should continue
On price front 16,660 is a (HEXAGON PATTERN) level
I would prefer NIFTY to test it, and then break 16,200 once this happens, it would signal, A classic HEXAGON breakdown
Once this activates the HEXAGON structure would signal, 15770 and 15,380 in coming weeks
All these things you should focus only if your view is for short-term
If you are a medium term trader, should leave for monsoon holidays
Come back on 1st,august
Till then need to relax
Similar traps happened earlier in January and April
Everyone knows what happened then
Whatever top NIFTY makes in near term should be the top for H2 for 2022

NIFTY, making it more Intresting now for retail Traders
All,though the up,move is only a Trap, this Trap will take its TIME to play out
So until (HARMONIC TIME PIVOTS) completes another CYCLE, It would be wise to wait
Now, the question is when this CYCLE would complete? Those who Understand HARMONIC TIME CYCLES, They know the next date
But those who doesnt, they should mark 1st,August, as next (HARMONIC TIME CYCLE DATE)
Until 1st,August Expect sideways and very volatile moves on both sides
It would be Tough for NIFTY to follow a clear trend till 1st,August
Because we have entered another sideways TIME CYCLE
Since Yesterday, many traders have asked me what to do with September puts
As far as I am concerned would continue to hold them
I still would look to add fresh positions on Higher levels
Would UPDATE when I do that
But anyone who cannot add, should not bother much
There were reasons why we entered SEPTEMBER puts
This MARKET would shake,out many before turning down
This MARKET would easily had turned lower if the high of 16,276 would had been protected
Because NIFTY has broken that, few alternate scenarios could potentially play out
And all sinarios should complete before 1st,August
In August markets have to turn down dramatically
More TIME markets stays sideways, that’s a clear signal that next turn on downside could be very sharp
With or without any negative news development, next turn on downside would surprise many
I still maintain 14,400 in SEPTEMBER
On 14th,July, I clearly mentioned, for short-term weakness NIFTY and other GLOBAL MARKETS must close below Fridays low
Since markets not doing that, short-term weakness cannot persist
So expect the Zig-Zag moves to continue
Better to approach with thin volumes, in short-term
On TIME front Tomorrow is a PATTERN DATE, and Friday is the VIBRATION DATE
Watching PRICE very closely
This bounce has stretched further above my expectations
But good part is it would provide opportunity to take fresh shorts
But need to assess that in real time
Based on my experience with previous BARE MARKETS, I think MARKETS would surprise TRADERS on Upside, before shockingly disturb Investors on downside
Let’s se how it goes
We are yet to see the best of this BARE MARKET

DXY, Fermly above 109, this have severe, infact very severe ramifications for Equity markets
Dont be happy with Intraday recoveries or short-term rallies
It’s only a trap
Back in April I posted a bullish view on DXY, Gave Target of 108, it has exceeded that
Next level to watch would be 110.50 if this breaks without any consolidation, that would trigger more panic in Emerging Markets
Next review on DXY when it prints 110.50
This should happen

NIFTY, along with other Global Markets have to deal with a critical (VIBRATION DATE) tomorrow
A daily close, across markets, below Tomorrows low would make short-term TIME cycle Bearish
A break of 16,000 on (NIFTY) have eliminated the probability of 16,400 for now
I would be more watchful In U.S. MARKETS,More specifically S&P, and NASDAQ, If markets breaks 3740, and 11,000 on both Indices respectively, I certainly have to rule out all upside possibility for near term
I would had been more comfortable if U.S. INDICES have turned down from slightly higher levels
But as analysts we have to accept what markets gives us, for slightly medium term I only have 1 view which is extremely bearish
From here I wont mind short-term bounces
Overall I am pretty clear and convinced with my view
Equity markets accross continents have to go down and make fresh lows for the year
Yes, have to deal with volatility but eventual direction would be on downside

HDFC,BANK has mostly made a near term Top at 1410
As far as it stays under it, TIME setup would remain week
Would prefer to go short on rallies, going forward, I expect (HDFC BANK) to turn,down and test levels of 1324 and 1278 on cash Positionally
I wont necessarily prefer futures on all short trades
There are several OPTIONS strategies which could be executed, if we have a certain direction clear on the underline symbol
Coming back to HDFC BANK again, I would be watching 1 level very closely on downside, which is 1225, I do expect it to go there
And complete its channel target