SBI ended the ultimate euphoria very badly. What suddenly happenned that, 50% of entire rally from 2022 lows disappeared in matter of few days. During its upmove in later part of 2022 I posted multiple times that, entire rally was absolutely deceptive specificlly from SEPTEMBER low, it was about to end badly and it has ended badly. Going forward, the rally from 499 is only a counter-trend-rally, which in normal conditions is likely to end under 580 on cash. Staying under 580 is extremely BEARISH sign and that also keeps PATTERNS on sell side for possible Target of 491 in coming days. TIME wise (MARCH) is big month here.

NIFTY; with rest of other MARKETS would face a test of TIME next week. On 6th february we have (VIBRATION DATE) and on 7th, we would have (HEXAGON CYCLE) date. Basically the low of 6th would be important for all MARKETS since we are looking for other GLOBAL MARKETS to join us on downside. If other markets keeps going up 1-2% on daily basis then for (NIFTY) it would get tough to make fresh lows for short term atleast. At best it can stay in a range for now.
NIFTY continues to have strong resistance closer to 18,000-18,200 we still prefer to add fresh shorts on higher levels for downside Targets of 17,150 and 16,855 on spot.

INDIAN;HOTELS; will have Interception of (PRICE) and (TIME) next week. TIME wise it will hit 2×1 ANGLE from its TOP which it made on 11,11,2022, not only that it will also complete 1 cardinal rotation from NOVEMBER high on 10th,FEBRUARY, so next week would be very critical for this particular STOCK.
PRICE wise we have (VIBRATION PATTERN) break down here, also it broke a HORIZONTAL ANGLE from its TOP of 349, that level comes at 310 so basically PRICE should test next level which comes at 271 on cash.

ADANI;ENTERPRICE; is defining the concept of GRAVITY. Now what else we can Say we projected another leg down here below 2500 for CYCLE Targets of 2100 and 1652 on cash. Both Targets have been achieved.
Speed of this fall is surprising for me as well, but as a TRADER you cannot complain, what we can do is take profits and look for another TRADE. We achieved our CYCLE objectives here which we planned at 3800 in DECEMBER.

NIFTY; in all volatility Yesterday gave the print of 17,391 on spot it did not close below 17,472 but we need to understand the important message which MARKET is giving us. Yes we, still need a daily close below 17,472 but the print of 17,391 have made it clear that, sooner or later, MARKET will resume its next leg lower: which would not only be quicker but will be with greater intensity then what we saw recently.
Need to give that fare amount of TIME because we are not disccussing the short-term setup here. Earlier I posted that: we may see 17,150 during the month of (FEBRUARY) with yesterday’s low of 17,353 we were quite close. Gradually we should test 17,150 and even break that.
Another Intresting development happenned yesterday was, while NIFTY broke down, S&P went above 4,100 so setup have gone quite complicated there. We still would prefer to watch that till Fridays close to be more certain with near term setup.
MEDIUM TERM Setup remains BEARISH for U.S. INDICES but short term is something which we need to work on. We are watching that closely. Let’s see NIFTY is clear (sell on rise) but S&P is not.

NIFTY; got that rally which it required. Critical markers were held which we pointed out on MONDAY. going forward those levels would continue to hold greater significance. what were those levels? let’s again note that down.
We pointed out 2,levels 1,(17,472) on closing basis, 2,(17,391) on print basis both these levels are very important on (PRICE) and (TIME) parameters.once breaks next phase of correction or decline would resume, which can take (NIFTY) towards 16,855 and practically below SEPTEMBER lows. On upside all rallies are likely to stay under 18,150-18,300, on spot. Today is BUDGET and FOMC MEAT in evening so volatility would be on higher side. Once EVENTS are out of our way MARKETS would react to its Technical setup. NIFTY BANK too 42,000-42,400 is resistance and 39,000 is support, let’s see how long it takes to break supports.

KOTAK;BANK; today tested another PATTERN Target of 1,696 on cash. So 1 CYCLE is completed for now. Going forward it require a rally towards 1,755-1,775 on cash, before next leg lower resumes.
Next leg lower will certainly go below 2022 lows. As per Gann Patterns, next significant break down is placed below 1,620. We shall discuss further Targets once it breaks 1,620.

NIFTY; requires a rally before fresh sell off. On Friday we discusse the importance of 17,472 on NIFTY SPOT. Today it went slightly below that, but recovered quickly. There are more then 2,reasons why 17,472 is critical? Not only PRICE, wise it’s important TIME wise too that is an important level. If you are expecting a short covering rally on MARKETS then you don’t want to see, NIFTY closing below 17,472. A daily close below 17,472 and a print of 17,391 on spot, would rule out a substancial rally on upside. Level of 16,855 would open up below 17,391 but not in short term. There is a TIME breakdown below 17,391. According to PRICE PATTERNS next major test for NIFTY would be at 17,150 on downside.
During the month of february we may test 17,150. In case there is a rally after BUDGET or FOMC MEETING that would be an opportunity to add fresh shorts. There would be a rally, but size of that rally is something we would figure out later. NIFTY BANK too need to break 39,000 for further slide.

ICICI;BANK; completed the (VIBRATION PATTERN) Today, with the print of 816 on cash. Since DECEMBER our view has been very BEARISH on this STOCK. Multiple times we mentioned that, break of 870 have extremely BEARISH consequences for MEDIUM TERM and we are witnessing that currently.
But Nothing goes in a straight line, this too will have its bounce, but trend will remain BEARISH. 760 is a key level, holding it, we can see some relief, below (VIBRATION) point of 760 we would look for 721 and 685 on cash.

ADANI;ENTERPRICE; is going through a CYCLE correction, we discussed on a possible CYCLE TOP on all group STOCKS on 22nd,DECEMBER, since then STOCKS were falling gradually but the correction entered in its next stage in past week. Literally whole world is BEARISH now, 1 month back this was not the case. Even without any report, STOCKS would had fallen. Last month, we were looking for 3,010 For medium term on ADANI,ENT, but it has gone way below that. Need to relax here, next leg lower should resume below 2,500 on cash, for 2,100 and 1,650 in coming months.