NIFTY gave daily close below MONDAYS low Yesterday,
which gave the BEARISH confirmations from (TIME CYCLES),
todays Gap-down have gone through key PRICE points,
the most significant level was (17,427) on spot,
A break of that have signalled levels of (17,227) and (17,035) in near term.
This shall co-inside with our (HEXAGON) target of (17,100) which we shared few days back.
The manner in which market is sinking should not come as a surprise.
On wednesday we warned that (NIFTY) may have peaked at MONDAYS high of (17,799) we would again focus on the fact that, markets are in a MEDIUM term downtrend,
and this correction is likely to last for several months.
So dont get exited with 2 or 4% bounce from any bottom,
the actual bottom is miles away from current levels,
Note upsides would still come but trend reversal is less likely,
utilize those upsides to sell, and stay with the primary trend, which is down.

NIFTY probably peaked at MONDAYS high of (17,799) to confirm that spot has to go below (17,550)
A daily close below (17,671) would give a BEARISH indication on (TIME CYCLES)
Several major markets including U.S. MARKETS have already given that BEARISH signal of TIME, with their yesterdays closing.
Not only (EQUITY MARKETS) $ too have confirmed a BULLISH move on both (PRICE) and (TIME) parameters.
Going forward $ should finally take out (106.25) the level we have been focusing since January.
As posted earlier on 20th,January, a move above (106.25) would take $ above 2022 highs of (114.78) in matter of 3-4 months.
It has tested patience, but that should pay-off now.
Would be intresting to see how markets reacts to stronger $ even if we look at VIX that too is getting closer to 13, a sustained move above 13 on INDIA VIX should take it higher till 18,
Watch out
and wait for markets to close below MONDAYS low !

NIFTY naking things intresting now.
This recent bounce may revive Hopes for a TREND Change, but unfortunately that wont happen.
This may sound strange, but according to medium term patterns (NIFTY) still have plenty of work to do on downside.
Now this term (MEDIUM TERM) has to be understood wisely, it gets tough to UPDATE short term levels in real time specially when markets are very active, so I prefer to update only the medium term structure, and I personally take heavy trades based on that.
If I trade quarterly OPTIONS then my view has to be atleast for 2 months minimum.
So based on that view, such strong upsides does not impact those trades
At few occasions these upsides helps to add position’s.
Coming to near term setup now, last week I mentioned MONDAY 6th and 8th MARCH are 2,key CYCLE dates.
Today being a VIBRATION DATE and on wednesday it would be a HARMONIC DATE,
So for Today we mark the intraday low which is printed till closing, and then we shall wait for a daily close below it from wednesday,
Once this happens markets should resume it’s downtrend,
So it’s a process which we have to follow if looking for an immediate sell off.
For medium term direction of markets is decided by PATTERNS such as (HEXAGON) or (HARMONIC CHANNEL) and the speed or velocity of that direction is decided by short term TIME CYCLE DATES.
So watch out.

$S&P;500; has been sustaining below (4,020) the level we discussed in our last review, which we did on 2nd,FEBRUARY !

We mentioned on a possiblity of a fake out move which took place above (4,101) and finally markets have confirmed that !

So our medium term view is still intact.
Recent PRICE action has been very sluggish but in our opinion this is a BEARISH consolidation which should result in further LOWS going forward !

We like markets which confuses the majority of institutional participants,
Things does get more intresting where street is equally divided on future Trajectory so far the decline from (4,195 to 3,930) has gone well with all participants !

There is no fear in MARKETS,
TRADERS are happy to buy this dipp
But we believe that wont be ann ideal thing to do !

because as per PATTERNS we recently got a (SQUARING PATTERN) breakdown on S&P cash ,
which can take it down till (3,760-3,800) in very short term,
Frankly it is short on TIME the fresh leg should resume anytime now may be as early as next Tuesday,
We are expecting test of (3,760) within MARCH,
Lets see,
upsides are likely to end under (4,060-4,100),

NIFTY is still consolidating nothing major have shifted in over all structure since what we discussed 2 days back. Simillar view stands for (NIFTY BANK) as well. Because we trade in quarterly OPTIONS so there is no such pressure of TIME to get Targets in immediate term !
We can wait for medium term patterns to play out. Since mid DECEMBER we have relied on short term TIME CYCLES to evaluate high intensity moves which mostly were on downside. We mark key CYCLE dates for that evaluation
we are getting 1,such date on monday watch out for a daily high and low of monday, a daily close below mondays low would trigger for a rapid and sudden selloff in markets. Things are balanced until that happens. (NIFTY) is on it’s way towards JUNE lows in 3 months TIME FRAME from here but there would be some temparary pauses, with VIX at 12 we are getting PUTS for penny and we are capitalizing on that !

ITC possibly peaked at 394 on 23rd,FEBRUARY, we are still waiting for certain levels to break to confirm that, PRICE wise we just require 1,lower low below 359 on cash and TIME wise 6th MARCH is going to be very critical, because it would complete 1 (TIME CIRCLE) on 6th MARCH.
A break of 359 would signal move towards 335 positionally and below 335 it can challenge its swing lows of 325.
We would have extremely bearish consequences below 325, but that will take its TIME, as an INVESTOR you must understand that, we are close to a major TOP here or we already have a TOP in place.
Once PRICES turn we shall witness massive downside in days ahead.
watch out.

NIFTY after achieving our short-term objectives is consolidating near its lows. Very unlikely that we would get a major upmove, just because (NIFTY) has been down for 9, consecutive days-that does not mean that we have got closer to any sort of BOTTOM in place !
Yes at best, we can see some recovery for a day or two which can push prices till 17,490 to 17,620 on spot, but that too would be an opportunity to create fresh shorts. TIME wise we will have major TIME CYCLE dates on 3rd 6th and 8th MARCH, 6th would be a major CYCLE date which would provide us key markers for price reference going forward. On downside we are likely to test zone of 17,000-17,150 which would co-inside with (HEXAGON) and (HARMONIC CHANNEL) Target and below that 16,850 and 16,550.
NIFTY BANK is more intresting so far it have saved 2023 lows we believe it’s just a matter of TIME before that lows are broken We have added shorts here for targets of 38,100 on spot.
U.S. MARKETS also have turned lower we should get major price cuts there in days ahead !

NIFTY as expected broke the BUDGET day low of (17,353) Today,
The manner in which (NIFTY) has broken down with (VIX) still under 16 is highly BEARISH and this also keeps MARKET significantly away from any meaningful BOTTOM !
PRICE have achieved it’s near-term objectives,
but TIME is still BEARISH,
even if we take very-short-term view then also CYCLES are likely to remain BEARISH at-least till FRIDAY.
price wise I,would be watching level of (17,320) on closing basis a sustained daily close below (17,320) will expand the range lower all-the-way down till (16,850) on spot,
all upsides must be utilized to to add or create shorts.
!

ICICI;BANK; should end its consolidation anytime now. In my review here on 30th,January I expected PRICES to consolidate above 760, the level was held and STOCK got a counter-trend-rally till 877, this should put an upword-ceiling going forward !

the next leg lower should resume now which should carry prices till 760 and 722 in days ahead. MARCH is going to be a very intense month for entire BANKING space. Once-2023 lows are taken down we are likely to witness exelerated decline in MARKETS. Need to manage risk wisely and select stocks based on their PATTERNS. Define your expectations and stay with the primary trend !

AXISBANK is under-going a medium term correction back on 19th,January I identified 970 a durable TOP which actually confirmed with a break of 900, on 25th,January it broke 900 and confirmed an ultimate TOP at 970 !

below 900 I had primary Target objective of 861 which was achieved earlier, next Target is 820 but the consolidation which happened recently have very BEARISH implication for this STOCK which can drag prices much lower in coming days, just a matter of TIME STOCK should break 820 and move swiftly towards 775 on cash there is greater significance of 775, would explain that once it goes there !