The way; NIFTY BANK is moving since morning: from 700 down to 800 up,then again 600 down
Followed by another recovery is good enough to disturb option writers
Dispite of all such yo-yo NIFTY have managed to protect 17,400 so far!”
Let’s mark levels precisely
Between 17,400-18,000 this yo-yo will continue
Below 17,400 weakness persists
And above 18,000 strength will prevail
Manage your risk, that’s the only way to servive in this market!”
Sticking to our long term objectives
Any longs should only be limited to INDEX
No trades on stocks until setup flushes out the last BEAR on street
Market will play out very dangerous pattern if it takes out 18,000
But who cares!! Let’s see!”

NIFTY have to sustain below PATTERN POINT of 17,400 on spot to turn down convincingly
This volatility would make you crazy; if you try to make any sense of it
Tom is a very critical TIME CYCLE date
Need to watch very closely!”
If NIFTY does not sustain below key levels then there is a possibility that; NIFTY breaks 18,000 and go somewhere near 18,350-18,500 before turning down drastically
Obviously need to watch how NIFTY behaves near pattern points
Need to stay on edge
No change in long term structure anyways!”

$S&P;500 Holded the most important level of 4,070 in majority part of August but finally gave up on 26th,aug
So far the month of Aug for S&P; is like 4100-4300&4,300-4,100! So nothing really happened throughout the whole month!”
Still it kept everyone on edge of their seats
The debate on fresh BULL-MARKET for U.S. MARKET was in air till last Thursday
But 1 day decline shattered all such thoughts
Still markets are not at that point where everything sinks dramatically
We are not there yet!! But would reach there in few weeks from now
Before that if S&P cash prints 4,080 then there is a possibility for a lower high around 4,200 before further expansion on downside
Medium term objective remains at 3260
Let’s see how it goes there!:

NIFTY; above 17,450 has given a strong bounce
Yesterday afternoon I mentioned importance of 17,450
Above it the zone of 17,650-17,800 would be critical
To take shorts with stop above 18,000 and Target below 17,100
Need to approach wisely!:

NIFTY; breaking 17,450 have neutrilised the short-term setup
This won’t turn the structure but indicates that yesterday’s low of 17,166 won’t break immediately
INDEX is going through a Zig-Zag consolidation which have a problem of Trading Holiday Tomorrow!:
NIFTY BANK also broke critical HARMONIC CHANNEL support yesterday
Its sell on rise till 39,000 for channel Targets of 37,800 and 37,100 INDICES ideally have to break August lows once followed by a lower high before the final turn on downside
This perhaps looks incomplete pen ultimate move !”

AXIS BANK is giving early indications of SQUARING PATTERN breakdown
Would confirm below a daily close of 728
Pattern Targets would be 703, and 677 on cash in coming days

NIFTY for very short-term have VIBRATION PATTERN resistance at 17,450
Setup remains very bearish for near term below 17,450
As long as it stays under it it can test 17,050 on downside.NIFTY BANK should increase pressure

RELIANCE; have its AGM in sometime from now
Before that the setup is equally poised
No strength exists as long as it stays under 2700 on cash
Pattern breakdown is placed below 2550
Not interested on longs so would look for it to sustain below 2550
Expecting it to break 2550 in coming days
And test 2450 and 2375 on downside

USD-INR: has printed 80 on spot today
When DXY has posted a new multi year high, it makes sense to take a look at currency markets! There is something very major going on currency markets!:
The manner in which DXY is going up can potentially re-shape structure of many financial assets
Technically this upmove in $ is nowhere near over
Would be an interesting times for EQUITY MARKETS!:
USD-INR has almost achieved all Targets above 78 which were shared on 9th,june! From here 79 would be a strong support
On upside would rivise targets to 83 and 85
The peaceful long trade on $ continues which started from February!”

NIFTY; got that BREAK-AWAY gap which was needed to push down prices; earlier had projected target of 17,100 on spot which is yet to be printed! Until that happens all rallies would be sold!:
On TIME front today’s low would be critical on closing basis; but more important would be 2nd,september, which would be a TIME SQUARING date this date would be falling after 19th,aug so holds greater significance!: