NIFTY continues to trend higher our PATTERN objectives have already been achieved earlier.even though market continues to stay at extreme levels.
We are not getting that indication for a pause or a near term pullback.
We have been tracking near term supports closely,
On MONDAY we shared the level of 20,240 as a support,
that level today have moved higher to 20,691 on spot.
We only have PRICE to work with as of now,
Atleast till FRIDAY there are no TIME CYCLE DATES.
In mid NOVEMBER I shared 13th,DECEMBER as PRICE and TIME SQUARING DATE,
so that continues to stay a very important date,
but beforr that on FRIDAY we have NATURAL VIBRATION CYCLE DATE and on MONDAY we have HARMONIC CYCLE DATE both dates would be applicable to almost all MARKETS,
So TIME activity is about to pick up soon.

NIFTY comfortably achieved target of 20,475 which we discussed on FRIDAY,
with this INDEX also stands exactly at its PATTERN objectives of 20,500-20,700,
We were looking at this zone since NIFTY broke out above 19,881 on 28th,NOVEMBER,
This zone of 20,500-20,700 also completes the PATTERNS like (SQUARE OF 9) and (HEXAGON) things are getting little bit extreme here so market should hold on here for couple of days.
Nearest support for NIFTY have moved higher from 20,000 to 20,240 on spot.

NIFTY have posted fresh record highs which is very much on expected lines.
As a trader you always looks for such trending move which we got from tuesday when NIFTY went above 19,881.
This rally still have more to go atleast till 20,475 to 20,700 in next few days.
As I had repeatedly said,
no major CYCLE DATE exist till 13th,DECEMBER.
While looking higher we should keep track of supports as well.
As of today significant PATTERN supports are placed at 20000 on spot,
Any pullback which holds 20000 would maintain the BULLISH structure and would continue to indicate further higher highs in current upmove.
This is a TIME where we should look for TREND continuation not an ideal TIME to look for REVERSAL.
We shall get certain TIME windows for REVERSAL but we shall discuss that when TIME is appropriate.
Next week We have EVENTS like ELECTION RESULTS and RBI POLICY,
Let’s see,
We dont think EVENTS would damage the current MARKET STRUCTURE.

AARTIIND has given a higher degree breakout on PATTERNS like HEXAGON and SQUARE of 9,
STOCK has provided enough signs for a minimum upside for atleast 15 to 20% in next 6 months.
even for short term a daily close above 564 would trigger further expansion of current rally upto 600 and 637 on cash in coming days.
Any pullback towards 530 would be an ideal level to enter or add positions.

NIFTY with the break of 19,881 have given indication of much higher levels.

it took it’s time but we finally got our conformations yesterday where it closed above this point.
So as we discussed on 17th,NOVEMBER this move higher should easily take out SEPTEMBER highs.
we have certain projections which are suggesting zone of 20,500-20,700 on higher side which could be tested possibly till january.
As I said on 17th,
next major date for NIFTY would be on 13th,DECEMBER So we have no major CYCLE date till next 15 days.
For extreme short term 20,050 is a small resistance if spot stays under this zone there could be a pullback closer to 19,850 but that could be a buying apportunity.
Several pockets like BANKS are unlikely to participate much in this rally.
Means NIFTY BANK is unlikely to make new highs while METALS and I.T. should make fresh yearly highs.
The move higher may be sluggish it doesn’t have to be straight forward.
Now what this means for MARKETS in 2024 is a different story,
for now let’s focus on the near term setup.

ASHOKLEY have not participated much in AUTO rally since AUGUST,
the high which it registered on 16th,AUGUST which was at 191 is an incomplete high which should break in coming days.

As per CYCLES 23rd and 24th,NOVEMBER are very strong dates,
if STOCK can sustain above the intraday high of these dates then that would indicate significant upsides in coming days.
As per PRICE,

if it sustains above 182 then near term Targets would be 200 and 210 possibly till late DECEMBER.
DECEMBER 4th,
19th,
and 29th,
critical dates to watch.

HEROMOTORCO yesterday achieved our projected target of 3400 on cash.

We have been holding a BULLISH view here since 12th,OCTOBER from levels sub 3100.

it has been a tough job since late october to nail profits above 5% on a swing trade at one go.
Specially in large caps accept 4/5 stocks we have not seen sizable price expansion which we look for before picking up trades.
AUTO as a sector have done well,
2 wheelers in particular have been very strong.
Coming back to HEROMOTORCO now,
Above 3400 our ultimate targets would be 3600-3650,
but this should be an end of the move so have to be careful.
better to secure majority part of profits and leave rest.

NIFTY is holding on,
Majority of TIME since past 3 days has been spent within the range of 17th,NOVEMBER,
So there are no valid indications as of now.
We have outlined both BULLISH and BEARISH scenarios on last FRIDAY, need to wait for break on either sides,
Since NIFTY is closer to the breakout zone of 19,881 it still have to cross and sustain above that to generate a rally beyond SEPTEMBER highs.
Lets see INDEX should give a decisive move in next 2 days.
Patience is going to be key,
there are no benifits while trading in consolidation phases.

NASDAQ;COMPOSITE; protected its 6th,NOVEMBER LOW of 13,435 on closing basis,
In our review here on 9th,NOVEMBER we discussed 13,435 as a key to reversal,
since INDEX held this level there were no point hoping for a TREND REVERSAL.
again there is nothing to add further to what I earlier shared.
As far as POINT of REVERSAL is concerned I have been very clear that a REVERSAL is subject to a certain process which we have discussed earlier.
Since levels have changed,
let’s again revisit the setup.
We shared 16th and 17th as a key turn date earlier,
So the low of 14,033 would be very critical going forward.
A daily close below 14,033 would give us initial conformations for a trend reversal.
Once that breaks that would open up lower levels but first that has to break.
Holding 14,033 this rally would continue.

$S&P;500; held 4,320 and extended the rally further once it took out critical resistance zone of 4,415-4,420.
13th and 14th were key CYCLE DATES here and we have seen upsides expanding sharply on these dates.
Frankly there is nothing more to add on from what we posted on 8th,NOVEMBER,
which was our last review here,
even if you bought SPY futures on 8th,NOVEMBER with stops below 4,320 then also you would be at good profits as of today.
In 2023 this has been the first trader friendly rally on S&P since APRIL.
So going against the momentum was never a wise thing to do also we never had that intentions.
even though we were looking for the rally to terminate,
we were focused on CYCLE DATES and LEVELS.
Next CYCLE DATES are coming up on 24th and 27th,
PATTERN supports have shifted higher to 4,450,
As long as 4,450 is held,
there is no point going against the trend.