NIFTY is again knocking that resistance zone.
During past 4 weeks this has been an easy trade to pick.
Once again we would look to repeat that process.
The market still lacks a ferm momentum.
TIME wise we are ending the cluster of CYCLES Tomorrow. What these CYCLES have done is,
they have provided us a clear low at (19,233) Going forward that low has to go for a TIME breakdown.
Frankly we were expecting it to break with a gapdown but so far that has not happened.
Lets se,
There are no changes in PRICE setups yet.
that is still indicating to sell rallies near 19600 for targets of 19233.
This time it wont stop at 19140 below 19200 something major could unfold,
Watch out.

TATASTEEL today printed the level of 132 on cash after a long wait.
We initially expected it to rally for fresh calender highs above 124,
Took positions here on 24th,july,
just before its results were about to declared.
We also mentioned 107 as a very strong support here holding which print of 132 was guaranteed.
TIME wise we were expecting a higher high above 124.30 till 8th,AUGUST, it almost went there but missed by a penny.
going forward a daily close above 136 could extend this rally till 147 in next few days.

NIFTY needs a gap-down to break through the zone of (19,200) and we are expecting one till 6th of SEPTEMBER.
TIME wise we are in a very intresting zone as I highlighted last time.
Based on that, its ideal to expect a trending move in coming days.
There is a very intresting data point to note,
NIFTY since 2013 have not given 6,continuous negative close on weekly time frame.
We already have 5,negative weeks this is 6th and let’s se where we end this week today.
MONTH of AUGUST for NIFTY was the narroest month in terms of swing measured in % terms,
quite interesting,
SEPTEMBER most likely should be a moving month.
Not only for INDIA next week is important for U.S. MARKETS too.


Thee bounce in U.S. has exceeded slightly higher but I think it may not sustain here for long.
Let’s see how things goes next week.

NIFTY is still doing (BACK&FORTH) within that narrow Trading range.
Nothing really to get exited about, for traders betting on either sides.
On 22nd of AUGUST I posted that NIFTY do not have any significant CYCLE date until early SEPTEMBER,
and since then we have seen NIFTY trading on south of (19,600) and north of (19,200).
PRICE failed to build any sort of TREND on it’s own.
Hens we require TIME activity to pick up from here.
and that activity is likely to pick up from TOMORROW.
From 31st,AUGUST to 6th,SEPTEMBER there are 4 major CYCLES aligning together which would easily push MARKETS out of consolidation.
Such alinement of TIME CYCLES is about to happen for the 1st time in 2023,
infact whole month of SEPTEMBER is likely to stay very volatile.
During late JULY I repeatedly mentioned 1st,august as a very critical date.
that CYCLE as we all know stopped the rally, this CYCLE which starts from tomorrow could possibly break through the supports.
Lets see.
No changes In PRICE structure yet,
19600 is still a sell zone for targets of 19140 and 18975 on spot.
Make sure you are adding fresh trades closer to 19600 not closer to 19500.
VIBRATION and HARMONIC PATTERNS are signaling lower lows ahead.

SBIN; is an intresting STOCK to study for all CYCLE ANALYSTS not only to understand the structure for the STOCK itself but also to understand the structure for MARKET as a whole.
Plenty of times in past,
I have mentioned that dispite (NIFTY) moving higher there are certain STOCKS which are not showing signs for a CYCLE breakout.
Hens I have been very scepticle on calling for a fresh CYCLE breakout on INDIAN INDICES.
NIFTY BANK already have ruled out that possiblity,
NIFTY too should follow,
but for now we are waiting for 1 particular level to break on downside.
More on that later,
For now I dont want to assume anything.
Let me highlight one more point here,
There are 2 stocks which did not printed fresh highs.
1, was SBI and other was RELIANCE,
strange isn’t it?
Both the STOCKS are extremely important for INDIA as a country.
Meanwhile lets get back to SBIN now,
Starting from the TOP,
the decline from 629 to 499 lasted only 48 calender days,
just 48 days…
since that low the stock have completed 209 days and that high of 629 is still intact.
I dont think after multiple failed attempts that high will cross now.
So that makes it an ideal sell on rise candidate,
all upsides till 590 should be sold for PATTERN target of 529 on cash.
TIME wise 2nd week of SEPTEMBER very important here.

DLF possibly is preparing for a turn lower,
STOCK recently have confirmed the SQUARING PATTERN breakdown which is a very strong indication for a REVERSAL.
good possiblity that it may have registered a major high at 521 which got printed on 31st,july.
For short term PATTERN targets on downside would be 456 and 425 on cash.
Today is a minor CYCLE date here so todays low would be important,
but the major CYCLE is starting from 30th,august,
so would expect trending phase after that.

NIFTY is getting towards that resistance zone,
we have been mentioning this range as strongest resistance point since last 2,weeks.
(19,600-19,800) is a safe point to add up fresh shorts, also the risk reward is favourable here.
we are in a very narrow trading range so as an OPTION buyer you have to give yourself extra amount of TIME,
For now we are maintaining downside objective of (19,140) on spot,
below that we would look for (18,975) which is the HEXAGON PATTERN target, discussed on it on 3rd,august.
Lets see,
it would take TIME,
but should happen ideally.

NIFTY;BANK; is up today, so I feel it’s an ideal TIME to analyse the structure.
In Gann theory we analyse MARKETS using 2 factors, 1st part is based on GEOMETRICAL proportions of PRICE and TIME,
and the 2nd,part is based on CYCLES which all GANN followers refers as (CYCLE ANALYSIS) this is not something which is applied to only TIME its applicable on PRICE as well.
within CYCLES we can do multiple sub-divisions of TIME and PRICE ratios,
anyone who have studied GANN COURSES would easily understand the whole process.
it comes under (LAW OF VIBRATION) framework which is entirely based on MATHEMATICS.
Now let’s go back to NIFTY;BANK;
if I consider a move from MARCH 2023 LOW to JULY 2023 high as a start of a multi year BULL MARKET then unfortunately there is one problem here,
according to one basic guideline in CYCLE ANALYSIS a fresh CYCLE breakout cannot over lap with the previous range in this case the pullback in NIFTY BANK should not have entered under 44,151,
but it entered and that eliminated the case for a CYCLE breakout.
This certainly wont reflect on CHARTS for now.
Now when that part of ANALYSIS is clear, we need to focus on short term setup.
and when we analyse it for short term we can se that it have given HEXAGON and HARMONIC CHANNEL breakdown.
based on that we would prefer to sell all upsides till 45,000 for downside targets of 43,500 and 42,600 on cash.
A daily close below 43,450 would trigger a SQ,9, breakdown which could open up a way for a waterfall decline. until then it is likely to be a controlled fall.

$S&P;500; gave that short term pullback which triggered with the print of (4,487),
This happened on very much expected lines,
in our review here on 3rd,august we were very clear on a short term trend reversal,
and we have seen MARKETS trending lower gradually since early AUGUST.
not only that volatility too have picked up which going forward will put things in better prospective.
We also mentioned on NASDAQ earlier which have clearly broken down,
DJI is the only INDEX which is in some what better shape,
but that might not last for long.
Coming back to S&P now with 2,consecutive daily close below (4,388) it have confirmed a SQUARING PATTERN breakdown,
targets for that are placed at (4,300) and (4,210) on cash in coming days.
Any recovery attempt is likely to fail in zone of (4,460-4,490).

NIFTY is nearly a % away from its projected SUPPORT and the projected RESISTANCE.
We have continuesly mentioned (19,140) as a PATTERN Target and zone of (19,600-19,800) as strongest resistance.
MARKETS are doing BACK and FORTH in this broad range,
Since NIFTY missed the print of (19,140) until 18th,AUGUST so CYCLES have extended further.
Frankly there are no significant CYCLE DATES till early SEPTEMBER,
so from here PRICE have to move on it’s own the major TIME activity picks up only in SEPTEMBER now,
lets see we are not expecting any change in trajictry until then.