NIFTY UPDATE

NIFTY yesterday dramatically tested 21,450,
but the immediate reaction after testing that support was strong.
So PRICE PATTERNS are still in a better shape.
No weekness atleast on PRICE front.
INDEX has been consolidating since last 10,days,
without breaking its supports.
Although MARKET have sustained below FRIDAYS LOW which have turned near-term TIME CYCLES BEARISH but so far a failure go through its supports is unlikely to produce a meaningfull TRADE.
As I have been highlighting since several days,
A perfect short trade is on offer below 21,300-21,450 zone.
Need to wait until that happens.
On upside 21,834 is a key level to cross once that gets taken away levels of 22,000 and 22,090 could be tested.

NIFTY;BANK UPDATE

NIFTY;BANK; has printed a very critical level this morning.
the zone of 46,800-47,000 is an extremely Important Support zone both on PRICE as well as TIME parameter.
So if 46,800 breaks on spot,
then,
that would indicate a strong pullback in coming days.
On TIME front 20th,DECEMBER was a major CYCLE date here.

not because it had a major Intraday collapse on that date,
but because it was a PRICE&TIME SQUARING date from MARCH-2023 low.
So a close below 20th,DEC low would make setup further BEARISH.
Next important CYCLE date here is on 17th,JANUARY,
and the PRICE-TIME-EQUALITY level from the LOW of 38,613 is at 46,840 on spot.
If INDEX sustains below 46,840,
then that could drag prices towards 46,000 and below that most probably should challenge the lower edge of 4th,DECEMBER GAP.

JINDALSTEEL UPDATE

JINDALSTEEL, is breaking below its short-term PATTERN support of 725,
this can drag this STOCK towards its major VIBRATION PATTERN support of 677 on cash in Coming days.
For now we have convincing signs for a TOP here at it’s high on 14th,DECEMBER,
On TIME front 10th,JANUARY is a major TIME CYCLE date,
If going forward STOCK breaks below 677 then that could trigger a higher degree pullback from its low of 503 which was registered on 25th,MAY,2023.

NIFTY UPDATE

NIFTY had a very critical CYCLE date on FRIDAY.

As explained earlier,
the intraday LOW of FRIDAY is going to be very Important going forward.
if INDEX sustains below 21,629 then that would signal a near term trend shift to downside.
but only when it sustains below that level else not.

on PRICE front last week we discussed multiple PATTERN supports ranging from 21,300-21,450 all those supports are still intact.
so the technical setups from both PRICE&TIME fronts after a long TIME is absolutely clear.

Hens this rally still can continue,
but only as long as supports are held.

$S&P;500; and NASDAQ COMPOSITE UPDATE

$S&P;500 and NASDAQ;COMPOSITE probably got that final push higher during last week of 2023.

We discussed on a TOPPING formation on both INDICES on 15th,DECEMBER.
it likely took 2,weeks to complete and culminate the rally.
BOTH INDICES as of today has been holding their supports of 4,650&14,400 respectively.
Once we get a daily close below these levels that would certainly confirm my overall take on U-S-MARKETS.
TIME wise entire next week is going to be very critical, If MARKETS breaks their supports next,week,then we could get a very powerful move on downside.
More than NASDAQ,
S&P is poised very precariously,
because below 4,650 absolute PRICE-TIME-EQUALITY level is placed at 4,465
Could take TIME but that’s the next trajectory.

MARUTI UPDATE

MARUTI possibly have registered a major high on 07,DECEMBER at 10,932,
the PRICE&TIME EQUATION here is pointing towards more weekness in coming days.
Technically STOCK have to sustain below 10070 for further PRICE expansion on downside.
A sustained trade below 10,070 would drag prices towards its HEXAGON support of 9901 and a close below 9901 would open up positional Targets of 9600 and 9275 on cash in next few weeks.

NIFTY UPDATE

NIFTY the PRICE-ACTION since MONDAYS high has potential to generate a meaningful pullback in Coming days.
, As I highlighted in last week’ this is a very critical week and especially 5th,JANUARY would be the most Important CYCLE DATE.
,
, The intraday LOW of 5th,JAN is going to be a key reference point for the entire month.
, I also mentioned earlier that JANUARY is not going to be an easy month for MARKETS.
,
, In case MARKETS trades below FRIDAYS LOW,
, that would open up a genuine possiblity for a rapid decline in very near future. On PRICE front significant supports are placed in zone of 21,300-21,450 on spot.
, 21,450 is a VIBRATION PATTERN support,
, 21,360 is a HARMONIC PATTERN support,
, and 21,300 is a 90° angle from MONDAYS high.
, So far since late OCTOBER NIFTY have not given a daily close
below its HARMONIC PATTERN support.
, So if INDEX sustain below 21,360 going forward then that would further solidify the probablity for a meaningfull pullback in Coming days.
, We are anyways getting closer to PRICE&TIME alinement,
, still wait for levels to break.
,

BERGERPAINTS view

BERGERPAINTS is attempting a PATTERN breakout,
this attempt is likely to be successful once it sustains above 615 on cash.
Above 615 it would open up Target objectives of 658 and 711 in coming days.
The PRICE-TIME-EQUALITY level from SEPTEMBER high is coming at 582 so any dipp towards 582 would be an ideal apportunity to add positions.

AARTIIND UPDATE

AARTIIND have achieved its PATTERN objectives of 600&637 in DECEMBER,
I initially thought that the 20% rally here which I originally expected on 30th,NOVEMBER would take some TIME but that only took 1,month.
Going forward structure have gone more stronger.
PATTERNS like HEXAGON and SQUARE OF 9 have given further extensions till 720 on cash.
Any sharp dipp here would be an ideal apportunity to reenter.