ABFRL gave a break-down below 251 on 27th,January and achieved 1st, (HARMONIC PATTERN) target of 231 today. Quiet slow, but still week, next it should test 216, view posted on 23rd,JANUARY !

NIFTY and NIFTY BANK are on there way down. Practically we will get a daily close below MONDAY’S low Today. So that will set MARKET UP-for-a-CRASH going forward !

We mentioned this earlier as well. In-fact if you have been following this space then this up-coming fall is something we have been expecting and we have heavy positions to navigate this fall. As far as Targets on (NIFTY) are considered 1st level we are watching on downside is (17,353) which we expect as early as next MONDAY !

below that (17,100) on spot. We already discussed levels on (NIFTY BANK) earlier. As far as STOCKS are concerned BANKS are very week followed by OIL&GAS !
We are expecting a broad-based decline there would be a point where nothing would work. We have been very clear with our medium term target of 14,400 on (NIFTY) which certainly is going to be achieved in coming months !

We strongly believe our study on (CYCLES) and we have maintained our BEARISH view even when (NIFTY) made fresh highs. Not an easy-job, to stand against the majority where accept (TIME CYCLES) every thing else was BULLISH. Another argument we keep getting is, when everyone is BEARISH will MARKET actually fall? People have their own criteria to measure that how many on street are BULLISH and how many are BEARISH !

Some even call it a part of (SOCIONOMICS) but as a student of (GANN) we are not allowed to take that seriously, we only have to follow CYCLES no matter what the majority thinks, everything in this planet unfolds in a certain manner and (STOCK MARKETS) are no different. Only point is your calculations has to be correct. So do keep this point very clear !

NIFTY broke 17,844 yesterday so PATTERN has been bursted. PRICE have turned lower now once (MARKET) gives a daily close below yesterdays low (TIME) too would turn lower !

“NIFTY BANK also have continued its decline” projected path here would be 39,500 on spot. Should be a gradual move towards 39,500 furious fall is expected below 39,000 !

For (NIFTY) next major (CYCLE) date is on FRIDAY which would be 4X1 ANGLE DATE from DECEMBER high. As we have pointed out multiple times in past that, INDIAN MARKETS are in a down trend and we are in early stage of this down-trend at FEBRUARY lows we just completed a primary part of over-all (CORRECTION) the rally since 1st FEBRUARY is only a retracement of entire decline which started from 18,887 !

which at recent high of 18,135 completed exactly 50% retracement which is a normal pullback now once we get a daily close below 17,818 which is yesterdays low. We would be in for a precipitous decline in coming days. watch-out !

NIFTY is down but not convincing yet until level of 17,844 is held on spot. 17,844 is a rising VIBRATION angle from recent lows of 17,353, so break of 17,844 would break the PATTERN and turn the PRICE lower !

(NIFTY BANK) is shade weeker then (NIFTY). It have broken below recent lows, print of 40,950 on spot would signal test of 39,500 and once 39,000 breaks move towards SEPTEMBER lows would be very swift !

TIME wise next week is very important specially MONDAY and FRIDAY a daily close below MONDAYS low would set MARKETS up for a crash. We dont want to use that word, but that is how things are shaping as of Today !

Watch-out for U.S. MARKETS as well, S&P would complete very important CYCLE rotation from AUGUST highs and OCTOBER lows TOdAY. This will co-inside with OPEX, price wise we are closely watching 4,050 on S&P cash !

USD-INR is consolidating since the month of (NOVEMBER) in our last review here on 20th,OCTOBER we achieved our PATTERN objective of 83 but missed the print of 85 after testing 83 this pair went under long and lengthy corrective phase !

Going forward to come out of this consolidation (USD-INR) have to cross 83.20 on spot. Above 83.20 we will get a clean breakout which would take us towards 83.50 and 87 in near term !

Our long term objectives here is above 91, will take TIME but should eventually test that. Good part with FUTURES is we can wait till our Targets are achieved. Since we have carried longs since FEBRUARY 2022, and we would continue to carry this trade atleast till end of this year. So watch-out for 83.20 from here !

NIFTY have inched higher holding its supports, running towards the resistance of 18,201 now. It’s very obvious to us that, this is not the start of a new trend on upside. NIFTY is just retracing the portion off its earlier decline which started from DECEMBER !

We have been sharing levels for short-term setup for (NIFTY) earlier it was 17,720 from here it would be 17,844 on spot. As long as it holds we dont want to front run in suggesting next leg lower !

There are pending objectives to be completed on downside which certainly would be full-filled but there is no hurry for that, we are not short on TIME. From next week we have 2 very strong CYCLE DATES which would be on MONDAY and FRIDAY dont want to go in detail why these dates are important. Watch out for these dates next week !

NIFTY still needs a daily close below 17,720-the level we discussed on FRIDAY. Yesterday (NIFTY) tested that and came up back in its range. There is nothing happening on PRICE front for now and until (NIFTY) gives a daily close below 17,720 and print 17,620, theoretically no action on downside can take place !

Things are quiet on PRICE-FRONT but there has been good action on TIME-FRONT
tomorrow we have a (HARMONIC CYCLE DATE) which would be 2nd,most important date for FEBRUARY, intresting part is this would co-inside with the reaction which MARKETS have to give after U.S. CPI data which is due today evening !

“In case NIFTY reacts positively TOM, after CPI, then also it wont be a BULLISH sign any UPSIDE is likely to face very strong resistance at (18,201). Lets see, how MARKETS reacts, critical day Tomorrow !

NIFTY is likely to make its move early next week. This struggle could well resolve on downside. Watch out for 17,720 on NIFTY spot, once we get a daily close below 17,720 this consolidation phase would end !

PRICE PATTERNS would turn only below 17,620, once we get a close below 17,720 price levels should break. Until that happens this market would stay this way, very unlikely that NIFTY can take out 18,000-18,200 zone which we have discussed multiple times.

NIFTY navigated the CYCLE dates staying largely flat. Now it makes things easy for us to analyse the setup using TIME. A daily close below 17,652 would turn TIME BEARISH atleast till 17th,FEBRUARY. Last Friday we discussed on CYCLE DATES.
As far as PRICE is concerned, that too is consolidating with-in the range of 1st,FEBRUARY high and low. We believe NIFTY is likely to break this range of BUDGET day on downside. Today is RBI POLICY so there would be a reaction post POLICY.
If that reaction breaks the zone of 17,571-17,611 that would be a compelling indication that downside have resumed. Holding this zone would keep (NIFTY) out of woods for now, on upside strong resistance continues to be at 18,000-18,200 on spot.

$S&P;500; went above DECEMBER high which have made PRICE setup quiet complicated, earlier we gave less probability for S&P to trade above 4,101 which was the high of previous quarter but does the break of 4,101 confirms start of fresh BULL MARKET??
well we have discussed internally alot on this matter. We again went through the entire process of our long term forecasting model reviewed all CYCLES from 1901 and at the end came to the conclusion that CYCLE Low has to be in 2023, not in 2022 and there are no alternates for this condition. So BEAR MARKET is still not completed because (TIME CYCLES) are yet to complete their rotation. Hens no matter PRICE have gone above critical resistance but this has not been supported by TIME, so this can well prove out a potential fake out, but we would keep a watch on that. In our review here on 19th,january we focused on 2,points,1, a daily close below 3,888 and 2, break of 3,850, both things din’t happenned.
So market dint gave that indication of throw over. Going forward level of 4,020 holds the key. Once S&P gives a close below 4,020 our objective of potential fake out would materialize in coming days. We still continue to hold our view that OCTOBER low of 3,491 on S&P is not a CYCLE low. There are Lower Lows required to complete this BEAR MARKET, let’s see how CYCLES overtake Technicals may not take much TIME. U.S. 10,Year YIELDS have signalled next leg higher, and $ too have rallied from 101, would be intresting to see how this impacts EQUITY MARKETS!