6

NIFTY;BANK
has given decent decline since it gave (HARMONIC;CHANNEL), breakdown below 34830 on 9th,June
After that it completed 2,Channel,Targets which were mentioned on 6th,June
Going forward, If NIFTY;BANK spot, goes above 34,100 then there could be a short term bounce, which can take index to 34,800 and 35,500
This only would be a counter,trend bounce
In medium term this index can shed, 15 to 20% from current levels
But as traders we have to deal with voletility which may persist for short term
The possiblity for short term bounce, validates only above 34,100, staying under this level will keep short term setup week
Utilize bounce to sell only, because medium term structure is considerably week

NIFTY, too late to get bearish now
At 15,500, better to come out of your shorts
Markets should give a durable bounce before next leg of move on downside
TIME wise 17th, 20th, and 21st very critical TIME CYCLE dates
Better to stay light during such times
20th, is a pattern date
If MARKET gives a rally on 20th, or 21st,
That would conform that short term bounce is coming as what I am anticipating
15,820 is a VIBRATION PATTERN, breakout point
Watch out for that

Things are getting more extreme specially in U.S. MARKETS
Irrespective of what happens after the FOMC, outcome markets are poised to give a Gravitational bounce from current levels
Whether that happens Today or Tomorrow that doesnt matter
Even”though S&P;500; have broken 3771 markets may not begin their expansion immediately
It may give a counter bounce before the channel expansion on downside
So better to trade wisely
A break of 3771 is an extremely Bearish signal for medium term
This is indicating that this, correction could last more then our anticipation
3540, is certainly coming on S&P, but before that we may vitnes some bounce
Let’s see how it goes, in Coming days!

NIFTY, some facts going forward
First of all TIME, which is bearish only till 17th,June, we have witnessed majority part of fall, for this cycle
On 6th,June, I mentioned clearly that this TIME the MARCH low of 15,671, will certainly break
We have got print below 15,671 today
Many are hoping for some reversal
First of all, hope is not a good thing
There are some criteria, and conditions which markets have to complete,
On price front NIFTY, has to break 16,000 on upside to vitnes some counter action on upside
On TIME front, 20th/21st, very critical for short term price action
Because that’s the next combination of (Pattern+HARMONIC TIME CYCLE) dates
For now better to keep exposure modest, and wait for some critical TIME PIVOTS, to pass
For medium term 14,400 still intact
But after some bounce

NIFTY, on expected lines, has broken MARCH, Low of 15,671
That too way before time
Personally have taken majority of Profit from August puts
TIME, too relax now
Would look for counter trade going forward

$S&P;500; has given a decent fall in Last week
The fall was very quick once it gave a print below 4050, the level which was mentioned on 6th,june
Going forward I still need a print below 3771 before making further projections!
3771, is an Expanding Point for (HARMONIC CHANNEL), Until S&P, sustain below it further channel expansion is not possible
So for now will wait for market to conform that it still wish to go down
In this move
HARMONIC CHANNELS, take their time to complete their rotation
If S&P, Fails to break 3771, then a move towards June highs would be possible
Even,though a break of 3771 would open up levels of 3540 and 3280
For now allow markets to give their say
3771 holds the key for short term
The medium term structure is still bearish
Shall discuss that some other dayhttps://ganntradersaahil.wordpress.com/2022/06/07/sp500-update-3/

NIFTY, has completed HEXAGON Target of 15,780 on spot
Mentioned on it on Friday
Those who understand HEXAGON, would figure out next move as well!
Anyways it’s only basic MATHEMATICAL calculation
Going forward NIFTY still has to break MARCH low
As I often mention, There are TIME and season for everything in Gann Theory
You need to make aggressive moves, closer to critical TIME PIVOTS, specially in (HARMONIC TIME CYCLES)
Those who understand these cycles, understands the Begining and Ending Points! At 15,750 Therr is no point to get ultra bearish
Think practically and trade wisely

NIFTY, has given a HEXAGON, breakdown below 16,200. Meanwhile it also have completed Pattern Target of 16,220
Mentioned on it on 6th,june, short covering bounces would come and go
But cycles are clear what would happen next!
HEXAGON, Targets for NIFTY, is 15,780 on spot
Sooner or later it has to go there
I dont mind markets dancing before completing my targets
TIME periods are certainly defined

RELIANCE, looks ready to resume its journey on downside
A break below 2710 would signal downside towards 2645 and 2570 on cash Positionally
A print below 2640 would signal (SQUARING PATTERN) breakdown, which will open targets below 2500 and 2380
MEDIUM TERM targets still intact here!

USD-INR
finally will cross 78, this time
My view had been bullish here since 11th,February
On 7th,MARCH, I posted last update here
Since then market has gone sideways since last 3 months!
Most lightly we will get a print above 78 in near term. Once that happens expect $,INR, to test 78.65, 79.50 and 80.65 in medium to long term. Targets would take their time, but prices should travel towards projected levels!https://ganntradersaahil.wordpress.com/2022/03/07/usd-inr-update/