NIFTY has given bounce near a Hexagon Level of 16,150. We posted in morning at one point short trades has to be converted in cash. Since Today was a VIBRATION DATE such Voletility was always expected. Few times in past we clearly mentioned that you cannot be on both sides of market. You need to be particular with your view and direction. We personally preferred to avoid long trades. Today’s low is very critical. Mentioned this in morning as well. A close below Todays low would make things very nasty in short term. It also would be a daily close below HEXAGON level. So watch out for that. There is a old love affair between the month of MARCH and Daily gaps. So that shall continue. On Monday we have HARMONIC TIME CYCLE day. So voletility is here to stay. We shall attempt fresh shorts below 16,200 on spot. For now let it go up we are not interested in longs.

NIFTY broke the low of 24th,February. We discussed about it Yesterday. In case 16,200 had not broken Today then few conditions would had applied. Criteria was also mentioned in Yesterdays post. But now when NIFTY has broke the low of 24th,Feb shows that our expectations were correct. But we cannot state like sir (Gann): that if it doesn’t happen then there are some mistakes in our calculation. We are his students so we do focus on probabilities. Markets are always supreme beyond all analysis. Going forward short trades need to be covered at one point to in cash profits. So need to consider that fact. Whatever low is made Today would be critical for Global Markets. Also do watch out for 16,150 which Is a Hexagon Level.

NIFTY have time till tomorrow to break the low of 24th Feb if that low doesn’t breaks then few conditions would apply. Although the medium term texture is not going to change. In short term TIME would go in a sideways consolidation. And it shall remain there until MARKET gives a daily close below Tomorrows low. You may find this bit complicated. But that is how it is! Nobody is allowed to break TIME rules. On PRICE front NIFTY have a Pattern resistance at 16,850 which if gets crossed then move towards 17,000 and 17,180 would be on offer but we would not prefer to chase that.

RELIANCE shaping up Intrestingly. Looks a classic Bull:trap. Earlier it gave a channel breakdown below 2300 we had mentioned this in our earlier post in mid February. After that it went towards 2251 and gave bounce. We have plenty of reasons to believe that this rally won’t sustain. Because no stock can escape the power of (HARMONIC CHANNEL) breakdown it doesn’t matter whether it’s RELIANCE. Going forward based on our studies. We expect RELIANCE to break 2300 again and complete the channel Target of 2150 on lower side in days to come. We won’t hesitate to take a Futures short here with a hedge against short-term Impulse moves.

ICICI BANK all set to break (DIAGONAL) support of 697 in Coming days. Structurally Targets would be 612. But won’t go so hard on it for now. In short:term 666 and 642 would be Pattern Target.

HDFC BANK Today achieved the 1st broader Triangle Target of 1401 on cash. On it’s way towards 2nd Target of 1285 now. But what’s the Hurry to go there. View posted on 16th,February,2022. Dint expected it to test 1401 in such a short time. But markets are always supreme. Structure still remains week so would still look opportunities to sell on rallies.

You just can’t stay long in this market. At least not without a Hedge. This market would continue to shake out week shorts and would stay this way for now. We know the direction which is down but the point to add shorts may differ according to the time frame of an Individual trader. We have no issues to add shorts even at 17,100 because our time frame is higher. But we need rallies to build more shorts. For near term it’s just a matter of time for NIFTY to break low of 16,200

This is a market to trade smartly and wisely.

Would like to add a word on current situation and its impact on Markets. First of all what’s happening is extremely unfortunate. We only can hope that this conflict gets resolved soon. Forget FINANCIAL MARKETS for humanity such events are extremely disturbing. Now the point is what happens to markets if the issue gets sorted! Frankly if this problem gets solved for markets it only would be the joy of 2 or 3 days. It cannot change the underline texture of market. Because when we made the bearish forecast such events were not in equations. So beyond short term reactions trend reversal is not possible. At least TIME won’t let that happen. Now for very short-term Tomorrow is a Trading Holiday. And 48 hours is really a long time under such circumstances. So we have to manage the short term volatility. But my friends who are intrested in swing trading 1 thing I would like to mention again is. Our Target of 15,500 on NIFTY. Have patience we are going there. Focus on long term structure and ignore the noise.

SBI;LIFE today achieved the Target of 1037 on cash. We kept an aggressive targets here because the larger degree structure damaged significantly below 1104. It gave several apportunities to sell on rallies till 1150. View posted here on 14th,February. Made low of 1040 on 24th,February.https://ganntradersaahil.wordpress.com/2022/02/14/sbi-life-view/

On Friday we carried (INDEX PUTS) although the risk was very low for overnight positions. Took part profits, and we still shall continue to adjust trades based on (Triangle And Vibration Pattern).

Based on placement of NIFTY on price pattern expect probable gap:up or gap:down on wednesday. The gap could be significant so avoid BTST or STBT Trades. We have hedged our trades.