NIFTY turns from positive to neutral below 17350 and neutral to negative below 17200 on spot. Next week is 90th week from covid lows. A daily close above todays high would accelerate momemtam on upside. Even 17950 could be tested. Let’s observe.

EXIDE INDUSTRIES. Seems that it has bottomed out. Might not break 149 and in coming weeks should test levels of 190 and 220 on cash. Those who understand HARMONIC CHANNEL won’t mind if I give 250 as a Medium Term Target Here. It’s going there but slowly.

RBL BANK. Gearing up to give a Pattern breakout above 211. Which is Triangle+Harmonic resistance point. Once it clears expect 225 in short term and 240 in Medium term on cash.

ICICI BANK. ENTERING an extremely Tough zone of 761 to 781 on cash. Once this zone is crossed vibration and Harmonic Wheels would turn higher. It could test levels of 815 and 850 on cash Positionally. Above 815 It would be a Triangle breakout whose Targets would be 867.

NIFTY had an Intresting Last week. Where we had a Weekly Low on Monday and a Weekly High on Friday. Since this Happened after a sharp correction it has a greater significance. Last week I mentioned 3 Points. 1 Avoid going short on NIFTY until and Unless the Low of 29th November is held on spot. 2 To get an early Indication for a Base formation NIFTY needs a daily close above 17325. Which we got. And 3 NIFTY needs to cross 17450 to give a Breakout. On Friday we crossed the level of 17450 but it found it tough to sustain above the breakout point. Hens the price fell after testing the zone. For this week NIFTY Meeds to consolidate in a range of 16950 on downside and 17450 on Upside. We Have 2 Vibration Dates this week first on Monday and other on Friday. The Price Structure still remains positive as long as the zone of 16950/17150 is Protected. NIFTY is yet to complete the Process of Bottom confirmation. So until that process completes we need to stay more watchful specially with Overnight Positions. On Time front there is Weekly TIME SQUARING happening on the week starting from 13th December 2021. And 1 more harmonic time cycle ending during the week starting from 20th Dec. So stay on the edge of your seat. We are ready to fly if some how NIFTY manages to protect November 29th low.

AXISBANK. Not an easy trade but would still look to take a reversal trade here. The amount of risk is comparatively higher. To come out of a falling trend it first has to clear the zone of 703/723 on cash to test the levels of 755, 780, 810&840 in coming weeks. Above 723 it would come out from a falling Geometrical Channel which has been developed since late October. So that’s the first criteria it needs to conform a trend reversal.

CHAMBALFERT. Is a 1 of the rare setup which is very strong in F&O space. The recent selloff in Markets failed to break the Pattern supports here. If you can afford to Take some risk then add this stock on dipps till 365 for the Vibration Pattern Targets of 420 and 455 on cash Positionally. Note above 422 it would be a dimensional breakout who’se Targets would be 460 and 505 on cash in Coming weeks. Hexagon and Harmonic Patterns are also in sinc for an Upmove here.

AGARIND. Today achieved the 1st mentioned Target of 444. Once 470/490 zone breaks here it would test 580 on higher side in coming months. View posted on 12th of Oct 2021.

NIFTY. Looking to stabilise at current levels. Now when both the Vibration dates are behind us. We can expect market to calm down a bit. As I mentioned on Monday Trading Indices won’t be an easy job. And it gave counter moves on both sides as expected. So going forward better to Trade NIFTY with thin Volumes. A decent Long Trade would open only above 17450 on spot. For the Targets of 17620 and 17780. Would prefer to avoid shorts as long as Mondays Low is held. Expect deep cuts once NIFTY SPOT breaks Mondays low. The first sign of base formation would come only if we close above 17325 on NIFTY. Markets in UNITED STATES are at critical supports next 3 days would be important here.

Looking for some ideas now to park some money for medium to long term. 1 such stock which comes under radar is NITIN SPINNERS. NSE SYMBOL NITINSPIN. Buy some at current levels rest at dipps till 200. Expecting Targets of 350 and 430 here in Medium Term.