“As we analyzed on August 20th, a print of 1442 on cash was needed to confirm a strong breakout in RELIANCE.  The  stock  was  rejected  from  the  1431  level,  creating  a  new  low  below  its  early  August  low.

The  next  critical  support  is  now  the  1280  to  1320  zone  on  cash,  from  which  a  powerful  rally  can  unfold.   Today is a key cycle date, and a sustained move above today’s intraday high would signal a return to stability. Monitor this closely, because RELIANCE’s trajectory is crucial for NIFTY’s overall direction.”

INDIANBANK  is  in  a  medium-term  uptrend.    In  the  short  term,  it  has  strong  support  between  ₹640  and  ₹660,  making  any  dip  into  this  zone  an  ideal  entry  opportunity.    The  stock  is  currently  in  a  sideways  trend,  and  a  near-term  rally  to  ₹703  and  ₹733  will  only  happen  if  it  breaks  above  ₹685.”

Looking  at  our  time  cycle  analysis,  September  is  a  crucial  month.    It  marks  the  completion  of  a  major  cycle  rotation  on  the  monthly  charts  from  the  June  2024  high.”

At times, as an analyst, you feel that enough is enough. And when we look at SBI, we experience that same feeling. Despite multiple attempts, we never got any sort of trade here. The trigger points which we discussed never broke on either side. But we will keep trying, and hopefully this time it should go through. As we speak, the setup is bullish here, but we would still prefer to wait until the stock takes out 856 on the upside. Once that’s done, we would then anticipate a rally toward 897 and 928 on a cash basis on the upside, and maybe even more than that. But for now, we would restrict ourselves until then. On the time cycle front, as long as the stock sustains above the August 11th intraday high, the setup is bullish, and it’s just a matter of time before 856 is taken out on the upside.

INFY is showing an early sign for a near-term reversal. If the stock holds the 1414 level, it can rally toward a cash price of 1495 and potentially 1535 in the next few days. From a time-cycle perspective, August 18th and August 19th would be critical dates. This is a risky and speculative call, so approach trade sizing and strategy with caution.

If TCS can hold its recent low at a cash price of 2991, it has the potential to rally initially toward 3110. Should that level be surpassed, the upward movement could extend up to 3170. From a time-cycle perspective, Monday is a critical date.
Please note, this is a risky trade and should be approached with caution. If this view is indeed realized, TCS has the potential to rally more than 10% from its current level. However, patience is advised for now.

“Once ICICIBANK decisively breaks below the 1458 cash level, the crucial downside protection it provides to the broader indices is likely to disappear. Given its significant weightage on both the Nifty and Nifty Bank, such a move would trigger increased pressure on the indices to breach their own supports.
Should ICICIBANK capitulate below 1458, we could anticipate the stock dropping towards 1440 and 1421 on a cash basis in the coming days.
ICICIBANK and HDFCBANK currently stand as the only stocks effectively holding the markets above their critical support thresholds.”