RBLBANK have squared out its PRICE with TIME in previous week.
Most probably it have registered a major high at 256,
STOCK have a key PATTERN support at 224 once that breaks it should test levels of 203 and 185 in next few weeks.
NIFTY UPDATE
NIFTY printed 19,267 today,
3 points to note here.
1, the TIME and PRICE have squared out which we were discussing in early OCTOBER.
2 till 3rd NOVEMBER NIFTY is unlikely to produce any reliable signal for a meaningful REVERSAL.
3 a break of 19,142 would push PRICES towards HEXAGON Target of 18,972,
If you are a long term investor then hope and prey to GOD that NIFTY do not overlap the previous high of 18,887 on spot.
watch out for INDIA VIX as well,
We are looking for a remarkable rally to unfold here.
$S&P;500; UPDATE
$S&, P;500; is still holding that all important zone of 4,200-4,250,
, We have constantly shared this zone as a MEDIUM term support,
, Finally its approaching that TIME within which this support should go away,
, MARKETS were waiting for CYCLES to aline.
, and they certainly have alined with yesterdays close.
Once 4,200 officially breaks MARKET would target MARCH 2023 low of 3,808 would take TIME though better to approach that in stages.
For immediate term we would watch for zone of 4,080-4,120 as a Target zone,
Increased volatility should finally become a new normal.
There is also a PRICE and TIME SQUARING equation here but for now it’s not essential to discuss that.
HEROMOTORCO UPDATE
HEROMOTORCO takes out 3240 today which was our primary target,
This has happenned rapidly which is a strong sign,
PATTERNS getting more stronger now,
3400 should be easily achieved in NOVEMBER.
View posted on 12th,october.
NIFTY UPDATE
NIFTY had a key CYCLE DATE yesterday,
A daily close below yesterdays LOW would set a stage for a vicious or a waterfall decline immediately ahead.
Watch out for that,
We have been very clear on,
NIFTY going towards 19,267 which is PRICE and TIME SQUARING POINT,
it may not stop there,
but for now better to take 1 step at a TIME.
Finally MARKETS are approaching the extreme POINT of pressure in CYCLES.
So we should define within which date NIFTY should break level of 19,267,
Our calculation suggests that, we should reach there till 27th,OCTOBER.
Next PRICE and TIME SQUARING DATE for NIFTY comes on 3rd and 17th,NOVEMBER,
the DEGREE at which both would SQUARE would be 63°,
NIFTY SHORT TERM UPDATE
NIFTY is approaching key CYCLE DATE TOMORROW,
market would require a daily close below tomorrows intraday LOW to end recent consolidation and resume fresh leg lower.
Until that does not happen,
NIFTY is likely to spend majority of TIME between 19,650-19,850 on spot.
MARKETS globaly too are at a very critical point,
For S&P&NASDAQ fridays low would be extremely important to break,
Once that breaks we could witness a vicious decline immediately ahead.
Same goes for NIFTY if it gives a daily close below tomorrows LOW.
So if you are a conservative trader then wait till THURSDAY and react only when criterias are met.
Next 2 days shall be very intresting.
NASDAQ;COMPOSITE UPDATE
NASDAQ;COMPOSITE; have been moving in that channel which we discussed on 9th,AUGUST,We were working with downside Targets of 13,281 and 12,800,
We got 13,281 on 18th,august and since then we have seen a long consolidation.
17th,october is a key CYCLE date here expecting downward trend to resume shortly which finally should strike 12,800 the max TIME window which we would give for 12800 is 27th,oct let’s see,
Currently market stands at 13,574,
Would UPDATE next path once we get there.
HCLTECH view
HCLTECH is offering an ideal short trade,
The bounce from morning lows of 1208 may look BULLISH but in broad scheme of things it is not.
18th,SEPTEMBER was key turn date here and it probably have registered a medium term TOP there.
1311 was that high and that should not cross,
If our calculations are correct then STOCK is likely to print levels of 1160 and 1105 in coming days.
STOCK have PRICE and TIME RESISTANCE in zone of 1285-1305 under this its BEARISH.
26th,OCT, next CYCLE DATE here.
HEROMOTERCO view
HEROMOTERCO, have a strong medium term structure,
STOCK would give an ideal long entry in zone of 3000-3050 on cash for targets beyond 3240 and 3400 in next few weeks.
HEXAGON PATTERN is trending higher here so little bit of patience could be very rewarding.
ICICI;BANK UPDATE
ICICI;BANK; have been consistantly making lower lows in higher TIME/FRAME,
If we see just that,
then also it seems absolutely BEARISH.
In AUGUST I posted that 1008 should be an ultimate TOP also on 24th,JULY it completed a weekly cycle from 30th,JAN low of 796.
All these factors were conforming a TOP,
but the problem has been a very sluggish PRICE action since then.
To counter that we are experimenting here with TIME based on what sir Gann has described in his commodity course.
According to that,
it should test level of 880 on or before 27th,NOVEMBER.
any rally towards 970 would be an ideal level to short for mentioned Target.
