VEDL, Looks week. Broke HARMONIC PATTERN support of 410 today. Just a matter of time levels of 378 and 354 should be tested here on cash directionally. Time for METALS to participate in this correction.

DXY, (U.S. DOLLAR INDEX) is staring at a massive breakout. A print above 102.25 would trigger a Triangle Breakout whose Targets would be 108 in days to come. The rally of such magnitude won’t take place immediately. Its consequences on EM would be painfull. Keep a watch.

ITC: had a good run recently. The rally now seems Topping out. Initial signs are there, confirmation would come below 248 on cash. Once 248 breaks it would give a (RECTANGLE) breakdown, whose Targets would be 234 and 220 on Cash directionally. It moves very slow so gives opportunity to manage Positions.

SBI: breaking important pattern support. Utilize bounce to sell, for the Targets of 462 and 435 Positionally. Below 500 it’s in a weakest possible position Geometrically. Watch out.

ICICI;BANK would react on its Quarterly results on Monday. No idea how the results would be, but before results the setup is Indecisive. There is a bullish probability here above 787, but not interested in long trade here. So let’s move on to the bearish probability. The level to watch on downside is, 718 on cash. Below 718 it can test levels of 692 and 662 positionally. Just a matter of Time, the MARCH low of 642 would break in days to come. Let’s see how it reacts on Monday.

NIFTY violated the condition of holding 17,200 on spot. So Techmical pull back is done for now as per pattern. Be careful with long trades now. Utilize bounce to create short Positions. As a retail trader it’s important to understand, that a bearish market doesn’t sinc daily. You have to give Patterns some time to unfold. Today is an Important Vibration Date, so todays low would be critical on Time Front. A daily close below Todays low, would take NIFTY to 16,850 and 16,550 Positionally in Coming days. Next week we have 26th, and 28th, as next TIME CYCLE dates. So if we close below Todays low on Monday then we can have a decent down trending week, next week. So approach consciously.

NIFTY, given a decent bounce since Yesterday. This may still go on till 17,550 and 17680 on spot. Only condition is 17,200 should not break. If that breaks then its over.

KOTAKBANK yesterday achieved the pattern target of 1692 on cash. Price and Time were both week here. View posted on Monday.https://ganntradersaahil.wordpress.com/2022/04/18/kotakbank-view/

RELIANCE has gone up sharply in last 2 days. Price again have overturned Time here. But it’s an effort to violate Natural Laws. Which unfortunately cannot Happen. It’s doing exactly what NIFTY did earlier. And we saw what happened with NIFTY. Same would happen with RELIANCE. What can trigger 20%,+ fall that we dont know. Now as far as trade is concerned for now we had created bearish position using options. We won’t trade futures until results are not out of the way. Even if price makes fresh high sooner or later it has to respect time. Intresting time ahead watch out.

NIFTY broke the low of 17,067 yesterday. Plenty of time was there but markets moves on their own rhythm. For very short term this market is highly oversold. So it needs some bounce. Obviously I.T. has to vitnes some short covering before next round of selling. Along with HDFC group. 5% cut in 5 days is bit over done. No changes in overall view and direction. Sooner or later NIFTY is moving towards MARCH lows. But before that 16,550 is a channel support. Rallies would come and go.