DXY, Fermly above 109, this have severe, infact very severe ramifications for Equity markets
Dont be happy with Intraday recoveries or short-term rallies
It’s only a trap
Back in April I posted a bullish view on DXY, Gave Target of 108, it has exceeded that
Next level to watch would be 110.50 if this breaks without any consolidation, that would trigger more panic in Emerging Markets
Next review on DXY when it prints 110.50
This should happen

NIFTY, along with other Global Markets have to deal with a critical (VIBRATION DATE) tomorrow
A daily close, across markets, below Tomorrows low would make short-term TIME cycle Bearish
A break of 16,000 on (NIFTY) have eliminated the probability of 16,400 for now
I would be more watchful In U.S. MARKETS,More specifically S&P, and NASDAQ, If markets breaks 3740, and 11,000 on both Indices respectively, I certainly have to rule out all upside possibility for near term
I would had been more comfortable if U.S. INDICES have turned down from slightly higher levels
But as analysts we have to accept what markets gives us, for slightly medium term I only have 1 view which is extremely bearish
From here I wont mind short-term bounces
Overall I am pretty clear and convinced with my view
Equity markets accross continents have to go down and make fresh lows for the year
Yes, have to deal with volatility but eventual direction would be on downside

HDFC,BANK has mostly made a near term Top at 1410
As far as it stays under it, TIME setup would remain week
Would prefer to go short on rallies, going forward, I expect (HDFC BANK) to turn,down and test levels of 1324 and 1278 on cash Positionally
I wont necessarily prefer futures on all short trades
There are several OPTIONS strategies which could be executed, if we have a certain direction clear on the underline symbol
Coming back to HDFC BANK again, I would be watching 1 level very closely on downside, which is 1225, I do expect it to go there
And complete its channel target

SBI, have a week (HARMONIC) structure
Medium term Target here is 370 on cash
But would take its TIME to reach there
For short-term a print below 470 would put it, in a week position
Below 470, I would expect Targets of 450, 425 which are lower (VIBRATION) points
And below 425 expect 400 which would be a (HEXAGON) level
For medium term, I am bearish on everything which ends with a word BANK
Let’s see
How things goes

AXIS,BANK has given a decent Counter trend bounce from June lows of 618
Most probably it has completed the majority part of its bounce
Expecting prices to turn down from here
PRICE conformation would come, below 660, for,targets of 637 and 604 on cash

ICICI,BANK, seems turning from a very ideal place
In MARCH it gave (HARMONIC CHANNEL) breakdown
After that it has given rejection around 770 levels, because 780,800 is the upper end of channel
The completion point for this Channel is at 562
But for short-term I would like to see a print below 740 to get a breakdown conformation
Below 740 Targets of 718 and 685 would open up
Be careful if you hold it as an Investment

INDUSIND,BANK, have a week structure
The long term setup is very week here
A print below 810 would trigger a PATTERN breakdown which would signal a move towards 768 and 725 on cash Positionally, would take it from there

KOTAK,BANK, looks ready to resume it’s down,trend again after a counter,trend bounce
A print below 1690 would trigger a PATTERN breakdown, which would open up Targets of 1625 and 1560 on cash Positionally
BANKS have plenty to do on downside

NIFTY, is going through a Timely and healthy consolidation before next move
All,though I expect next move to unfold on downside
But for very short,term as far as NIFTY, holds above 16,000 level of 16,400 is very much possible
But 16,400 is subject to certain conditions so it may or may not come
Another factor which I am keenly watching is the bounce in U.S. MARKETS, for me it’s too slow and narrow
I expected S&P, to test around 3960, it went till 3918
Let’s see whether it completes or falls short
Next TIME INDICATION for this market would come on Friday, which would be a VIBRATION DATE
Expecting a Trending move from next week
I have slowly started to add September puts
Watching closely whether markets turn from here or from slightly higher
Downside is imminent for this markets, only point is from where it start to fall
Thrilling times ahead
Let’s see how it goes

NIFTY, finally gave a print of 16,200 on spot
That too on, 8th,july
Since last 2,weeks I had pointed 8th,july as (HARMONIC,TIME,CYCLE) DATE
Those who understood its calculation were aware on it
TIME PIVOTS, on MONDAY, would complete very critical HARMONIC CYCLE
Need to be prepared for more volatility going forward
Todays date also co-insides with a VIBRATION DATE
So time Has gone very active
Better to approach markets sensibly
PRICE wise I had minimum objective at 16,200 Which has been achieved for now
Going forward I expect markets to go little bit more higher above 16,400 before this bounce ends
I had been calling out this bounce as counter trend bounce, because primary trend was, and still is strongly bearish
Expecting primary trend to resume shortly
But markets can do anything
Bare markets are tough to trade
But we have to keep following our plan
Controlling the risk element
Because if risk is addressed, the fear of Loosing eliminates
So far markets had performed on expected lines.but sometimes things wont work as expected, still we have to keep following our process
And the process now says to start looking for short trades
Waya september puts
Keeping a big target this time
Target would be, 14,400 on spot which has been my expectation since MARCH/APRIL, I have TIME LINE for the print of 14,400 on or before 15,th,september
I think it could happen before 15th,september
But in between there would be some counter trend moves
Would take that in real time
No matter how far this bounce goes
Ultimately it has to come down
And complete downside Targets