NIFTY; got that waterfall decline which we had been anticipating. It also completed our (HEXAGON) Target of 17,578 on spot Today. We had been mentioning this level since late DECEMBER. We also got (HARMONIC CHANNEL) breakdown below 17,680, So in short we got everything which we required for a medium term decline. Remember medium term. Today we achieved our short term projections. So we prefer to take part of our profits here.
NIFTY is near a Gann line closer to 17,472, so there could be some relief, there has to be a serious focus on U.S. MARKETS, if S&P breaks 4,120 then we have to consider alternate sinario Which is quite complicated. Let’s see, we are not there yet.
So FOLKS in INDIA should not get carried away with this decline. Let wall street join on downside, then actual fun will begin. Plenty of STOCKS too have achieved their Targets Today, not possible to UPDATE all today, will do it gradually.
Today was TIME SQUARING DATE, which we posted last week. Next week we have plenty of EVENTS but no CYCLE DATE. Take things easy and let EVENTS pass.

ADANI;PORTS; what a fall! Forget 671 which was our PATTERN Target stock is now Trading at 590. Better to take this as windfall profit and exit, getting crowded now, I prefer to take profits from the table and relax!

NIFTY;BANK; today confirmed a significant PATTERN breakdown breaking the DECEMBER low of 41,569 on spot. We finally got the Missing piece of the BEARISH (JIGSAW) which we have been discussing publicly for several weeks now. Well from our side PUZZLE is completed. Matter of TIME,we are in for that move on downside.
I only needed the break of DECEMBER low on both INDICES, which I got, this further validates my BEARISH view. I still await participation from U.S. MARKETS, looking forward for that in next couple of days.
For (NIFTY) things went quite extreme below MONDAYS low, 23rd,jan, as we discussed earlier was significant CYCLE date. Going forward it should break low of 17,761 and move towards the (HEXAGON) Target of 17,578 which has been our pending downside level to achieve.
We have UNION BUDGET next Tuesday, which would be an important EVENT for MARKET, going with this structure we cannot have dramatic turn on other side, may be 1/2, days of relief nothing beyond that. Let’s see.

ADANI;PORTS; gave a daily close below 764 yesterday, which confirmed next leg lower at all degrees. Took no TIME to test 1st PATTERN Target of 730 on cash. Next VIBRATION POINT is at 691, followed by 671, posted on it on 23rd,Jan, focus has to be on selling rallies.

KOTAK;BANK; still have very week structure in all private sector BANKS. We discussed same point on 19th,DECEMBER, back then, plan was straight forward: sell, and sell it on all rallies. Next leg lower here was projected below 1820, for PATTERN Targets of 1756 and 1696 on cash. Today it achieved 1756, quite slow to fall but moved down as expected. Setup is still week, gradually should test 1696 as well.

NIFTY, is at a point where anyone can think what HE or SHE wants to think. Because MARKET wont challenge your view, there is nothing happening, which puts BULLISH or BEARISH arguments under any question. There is something for both camps.
Every time NIFTY goes up, we anticipate a move towards 18,300 which is the mid point of CHANNEL, but MARKET disappointed us twice during the month, let’s see this TIME. MARKET is taking extra-ordinary TIME to move, this may be happening due to EXPIRY or BUDGET, but Technically this is a week market which should be sold on rally till 18,300 or 18,370 max. As long as 17,850-18,000 Zone is held on spot the BULLISH narratives would continue to persist.
Last week we highlighted 2,critical dates for this week, 1 of them was yesterdays date, so TIME wise NIFTY have to sustain below yesterdays low. Next date is 27th, let’s see.

ABFRL has shown a very intresting relationship between (PRICE and TIME). The TIME EQUATION from 20th,JUNE low and 1st,NOVEMBER high is MATHEMATICALY perfect. Earlier I saw such PATTERN in BHARTI AIRTEL, Anyone who understands Gann would figure that out!
Coming back to ABFRL now, it certainly is week, according to its (HARMONIC PATTERN) fresh break-down is placed below 251 for Targets of 231 and 216 on cash, in coming days.
TIME wise next week would be very important, it will complete few CYCLES from its TOP. Once this CYCLE completes, we should be in for a major move here.

ADANI;PORTS is in a very strong downtrend,all PATTERNS are Trending lower here. Once we get a daily close below 764, we should witnesse next leg down which should take it down till 671 on cash. In short term it can test 730 and 690, which would be near term PATTERN levels. Any meaning full upsides till 800 must be utilized to add shorts. Back in DECEMBER I posted a BEARISH outlook for entire ADANI group! Since then it has corrected, still do watch out.

NIFTY is running out of TIME, if there has to be a rally towards 18,300 then it must happen quickly else some more consolidation here would lead to a rapid move on downside. Things are very CHOPY for (NIFTY) but in next week we do expect a Trending move, because next week would be very Important specially 23rd and 27th,January would be a decisive CYCLE DATE for (NIFTY) On 23rd,January (NIFTY) will hit, 1X1 TIME ANGLE from DECEMBER 1st, High.
On 27th,January we have (TIME SQUARING DATE) for all MARKETS. Let’s see, TIME has arrived to stay on edge, also keep an eye on VIX Expecting VIX to print 18 within few days. Plenty of diversions are visible between (NIFTY), (NIFTY BANK) and (INDIA VIX) not a tough job to figure out how this would end. MARKET is setting up for a significant move, and we expect that move would be on downside. Let’s see, once we close below 17,980 upside probability should reduce rapidly!

DXY should be at an end of corrective decline closer to 101, back on 15th,NOVEMBER,2022, we expected it to take support near 104.25 range but it went below that, hens the correction continued. We still hold our BULLISH view here for MEDIUM TERM, but for short term we are closely watching level of 101 on DOLLAR INDEX SPOT.
Since last few weeks incrimental weakness is coming from JPY, Now that too is approaching critical PATTERN support at 125-127, so let’s see how this pair behaves going forward. In MEDIUM TERM for USD-JPY, we have Target of 160, We do not look things fundamentally, we follow (CYCLES) which is pointing BULLISH moves for $ and BEARISH moves for EQUITIES, Let’s see, for near term we resume next leg higher on DXY officially above 106.25 watch out.