NIFTY still continues to carry underline weakness under its surface. Although PRICE has not reacted much, the FORM of this market is very week. As we have been discussing here that the counter-trend-advance from MARCH lows is more or less have ended at 17th,APRIL high. we got some evidence of that in past week. The TIME structure for (NIFTY) is very bearish. PRICE is holding up because of NIFTY BANK, going forward that is going to be a critical INDEX to track. On NIFTY BANK we mentioned support level of 41,500 which was held in past week. Since PRICE hav stretched higher, we are considering an alternate plan here, which requires a higher high above 42,850 and then a lower low below 42,100 to complete its (HEXAGON PATTERN) NIFTY too is holding up to levels of 17,424-17,491 on spot the break of this zone would resume next leg lower. Since last MONDAY PRICES are absolutely flat in defined range. As long as it stays under 17,863 it is likely to turn down anytime. TIME zone from 28th,APRIL to 8th,MAY, would be absolutely critical, if market doesn’t break down now then it has to break within this TIME window. Lets see. if 17,863 breaks then break down level would shift higher.

NIFTY is confirming our BEARISH view, the patience which we have kept in last few days is likely to pay off very well, in days and weeks ahead. As we highlighted ON MONDAY there were initial indications for a sharp TOP, and MARKETS have now confirmed that. The daily close below (17,655) have turned short-term CYCLES bearish. Going forward we would look for a break of (17,424-17,491), this should not take much time to break. and once this zone breaks all upside possibility would go away. In our opinion the bounce from march lows was only a counter-trend-bounce which got stretched for 1 extra week. Nothing really changed despite NIFTY going above (17,800) Till june end we are still looking for levels of (15,183) on NIFTY. We are watching global MARKETS also very closely specially EUROPEAN and U.S. MARKETS are getting very closer to a major trend reversal. we should get some hint of that till friday, markets lately have gone very dull and sideways, hens would UPDATE in greater detail as and when activity picks up. Our outlook remains very BEARISH for U.S. MARKETS specifically.

NIFTY have given initial signs for a sharp TOP at Todays high, but some more work is required to conform it completely. As we discussed in previous week, an authentic reversal would be a 2,step process which shall begin once spot close below 17,655, below that we will look for break of 17,491-17,424, with todays decline possiblity of breaking this zone have increased substantially that too, within this week. Let prices confirm their reversal, until then better to wait. TIME wise we have 2,very important CYCLE date this week. Most Important would be TOMORROW on 18th, which would be (HARMONIC,+,TIME SQUARING DATE) and next would be on 21st, which would be a (VIBRATION DATE) watch out for both these dates. NIFTY is struggling between weakness in I.T. and strength in BANKS I believe that BANKS too should role down soon, once 41,500 breaks on NIFTY BANK this rally should get its TOP. Lets see watch out for 41,500 primary indications for reversal would b below it.

NIFTY is still in hunt for a TOP, Yesterday we had a very important CYCLE date for MARKETS . As posted earlier once MARKETS close and sustain below 11th,APRIL LOW, short-term TIME CYCLES would turn BEARISH and that would put a ceiling on this rally. There are 2,points which would conform reversal from this point. 1, A sustained trade below (17,655), and 2, A break of (17,491-17,424) on spot. Once MARKETS fulfil both these criteria we are likely to witness an epic collapse in MARKETS, which can carry (NIFTY) towards 2022 lows of )15,183) till JUNE. We have said this multiple times in past, infact in past week we concentrated particularly on this quarter for our BEARISH view to play out we are looking this as journey of 12,weeks this is going to be a long journey and we are in very primary stage of overall path or the scheme of things. It won’t be an ideal thing to judge MARKETS based on their recent price action. We are of the opinion that, MARKETS are likely to play out similar PATTERN which it played during JANUARY of 2022 lets see, better to hold on until certain PRICE levels are broken. We are sure that levels will break, but no harm in waiting.

NIFTY is searching for a TOP, it’s in its final stages of this counter-trend-advance from MARCH lows. But we still need some PRICE evidence which confirms our view, we are watching level of (17,491) very closely. Once spot breaks (17,491) we would be convinced that fresh leg lower have resumed, need to wait until that happens. From TOMORROW, MARKETS would face test of TIME. We have a very critical TIME CYCLE date Tomorrow. For MARKETS short-term TIME CYCLES would turn BEARISH once they sustain below Tomorrows LOW. Watch-out for Tomorrow’s low very closely. As I have mentioned in past, we get rapid downsides only when short-term TIME CYCLES are BEARISH. So if you are looking for immediate decline wait for MARKETS to sustain below tomorrow’s low. Lets see, this week would be important for MARKETS globally.

NIFTY probably is approaching the max-projections on upside, to resume next leg lower spot have to break 17,200,
As long as market stays above 17,200 the next leg lower would have to wait to unfold.
In short-term let the MARKETS do what they are doing,
We are more focused on the MEDIUM TERM picture, and MARKETS are approaching a now or never moment for BEARISH PATTERNS which have to play out within this Quarter.
This Quarter has just began so lets see,
Next 12 weeks would be very interesting.
TIME wise we are expecting a Trending move after 11th,APRIL.
until 11th, markets can consolidate at higher levels.
Watch out for Volatility Index at 12 there is high level of calmness in MARKETS and that is going to add max pressure in days ahead.
U.S. MARKETS too are getting to terminal point on upside expect some downside there from Today.

NIFTY have gone above 17,200 today which is sufficient to convince traders for a significant rally in Coming days.
In our opinion that wont be a case.
We would look it as a shorting opportunity once NIFTY enters zone of 17,300-17,500 on spot.
Medium term PATTERNS for MARKETS are BEARISH and they are unlikely to reverse.
The critical point to note here is whatever shorts you add your view has to be for June series.
We are expecting the test of 15,183 within june.
We have been maintaining this call for some time now.
And our view has been based on CYCLES, in next 90 days we believe markets globally should be significantly lower from current levels with or without any negative news flow.
Lets see, would be intresting.
For very short term markets have played out differently but it wont change the overall structure.
TIME wise next week is going to be very important specially for U.S. MARKETS.
Next MONDAY and FRIDAY would hold greater significance with reguard to TIME CYCLES.
For INDIAN MARKETS plenty of Trading Holidays are due in next 18 days so overnight gaps are likely to occur with increased volatility.

ABFRL have achieved its PATTERN objective with the print of 216 in past week.
We have carried our BEARISH view here since it broke 251 on 27th,January,
Stock is down 20% from those levels,
Going forward stock is getting very close to a very important support of 200 on cash,
If that breaks which I suspect it will,
This decline will continue all the way down till 182.
Watch out for 200 very closely.

APOLLOTYRE, is setting up for a decent correction.
It may have registered a significant TOP at February high of 343, most probably we will conform that going forward.
The break of 298 will put this in very week position,
Below 298 it would give breakdown on both PRICE and TIME parameters,
That breakdown can drag it till 275 in coming days and 253 in few weeks.
Watch out, 10 to 15% correction is due here.

$S&P;500; is acting according to its Script.
In our review here on 3rd,MARCH we expected it to make lower lows, and within MARCH we were expecting test of (3,760-3,800) and we got the low of (3,808) on 13th,MARCH.
Going forward there is no way, market can hold this low,
The low of (3,808) should be broken without much effort and the trend of lower lows should continue.
Very unlikely that (S&P) can trade above (4,100)
we discussed on (SQUARING PATTERN) breakdown last time, that pattern have gone more week in past few days, which is signaling break of (3,800) Rapidly once (3,900) is taken down.
As long as (3,900) is held, current Zig-Zag should continue.
We are expecting break of (3,764) which was DECEMBER low once (3,900) breaks.
Coming leg lower should be more dynamic,very stronger and bit longer in TIME duration.
Watch out.