NIFTY could still test 19,800 or slightly higher next week,
which has been our primary expectation,
Once those levels are achieved,
we would then look for the pending PATTERN target of 19,380.
The only point which can rule out the rally would be the break of 19,491,
which was the low of 5th,september.
yesterday it went very close to that,
but missed by just 1 point.
for broader context next week would be Quiet relevant.
On 4th,October we have major PRICE and TIME SQUARING for NIFTY BANK,
And on 6th we have minor PRICE and TIME SQUARING for NIFTY.
So the price action of second half of next week would be extremely important to track.

$S&P;500; has accelerated the anticipated decline in recent days.
In my update here on 22nd,SEPTEMBER
I shared 4300 and 4275 as Targets on downside.
MARKET have achieved both targets,
and is now standing at a very Important medium term support.
Last time we discussed it as well.
Zone of 4,200-4,250 is going to be extremely important.
Once this zone breaks,
we would expect very sharp cuts in coming days.
Now when DXY have gone above 106 and 10,Y, yields have printed 16,year highs everyone is busy justifying the recent fall.
For several months I have maintained a BULLISH view on $ and in my opinion,
the rally in $ is likely to last for much longer.
Pull backs from here would certainly be bought.
For very short term on S&P we are closely watching yesterdays low,
If that holds,
We should see a relief rally which should last for few days.

NIFTY prints 19,591 this morning which completed the PATTERN Target which we have discussed since 21st,SEPTEMBER.
On MONDAY we shared that for extreme short term 19,750 is a strong resistance,
that got saved very narrowly,
and INDEX have continued its downtrend.
Next target on downside is 19,380 but that could take TIME to achieve.
Before that we could see some rally which could test zone of 19,750-19,850 on spot.
also watch out very closely for lows of 5th,SEPTEMBER and 1st,SEPTEMBER,
both the dates were very significant according to TIME CYCLES,
if those lows are broken then prepare yourself for something dramatic.

M&M have mathematically squared out its PRICE with TIME from its MARCH lows,
We can apply simple MATHS here and can easily get date of 15th,SEPTEMBER as a date of PRICE and TIME SQUARING.
the stock registered a high of 1670 on 18th,
which almost matches the actual date of 15th,
Going forward that high is going to be a key,
For a PATTERN breakdown STOCK have to break 1555 which could open up Targets of 1503 and 1450 on cash in coming days.

INFY with its recent high of 1518 have probably ended a major rally which started from APRIL lows of 1185.
The decline from 18th,SEPTEMBER high matches all criteria for a trend reversal.
STOCK is in it’s very early stages of fresh leg lower.
The coming decline should atleast retrace 50% of move.
For short term a print of 1439 would signal a PATTERN breakdown which would have Target objectives of 1385 and 1325 on cash.

NIFTY is at a critical point.
with todays Intraday low of 19,601 our projected target of 19,591 is yet to be printed.
For an extension on downside spot must break zone of 19,561-19,591.
To keep short term CYCLES bearish MARKET have to close below Friday’s low.
Watch out for that.
19,750 is a key resistance for extreme short term.
As long as spot stays under it things are BEARISH.
Above that some upside possible.

$S&P;500; has been trending sideways to BEARISH since mid AUGUST.
based on our studies of PRICE&TIME,
we have been very clear that it has registered a major high at 4,607 on 27th,july.
The PRICE action since that high is further confirming our view.

it has been a slow decline but we have to accept that.
MARKETS lately have been very narrow.
Hens as traders we have to position ourselves keeping that in mind.
Just to keep things in prospective,
in entire 2023 there are less then 7 trading sessions in which S&P have declined more then 1.5% in intraday basis.
So that says everything.
I have been in markets for more then 10,years so I do understand that,
such narrow MARKETS does not last beyond a certain point.
For S&P; we are reaching that point in OCTOBER.
For short term,
we have a PRICE and TIME SQUARING DATE coming on 27th, and 28th,SEPTEMBER,
So we are going to watch that very closely.
We have shared Targets of 4,300 and 4,210 earlier,
and we still maintain that.
4,275 is also a key support let’s see how it reacts there,
for MEDIUM term zone of 4200-4250 is absolutely critical,
Going forward INDEX needs to break this zone for a MEGA decline.
We also have been very clear with our view that the OCTOBER 2022 low of 3491 on S&P; is not the final low.
That low will break,
and we have a certain TIME window within which it shall break.
Would share that when we get closer to that TIME.

NIFTY with the break of 19,800 have broken a key PATTERN,
as discussed yesterday,
this can drag the INDEX towards 19591 and 19,391 on spot.
The BREAKAWAY GAP yesterday and a small GAPDOWN today are very significant.
Specially yesterdays open GAP will be considered as a sign of near term trend reversal.
2 weeks back I highlighted 2,factors which can put significant pressure on NIFTY,
1st was a break of 4,430 on S&P,
and,
2nd was a print of 106 on DXY.
S&P has broken 4,430 and DXY is very close to that 106 mark.
We were sure that these levels will be printed,
hens we were bit conscious to enter longs.
NIFTY is back to where it was,
and setup have again turned to sell on rise.
The behaviour of private BANKS and RELIANCE is concerning.
But it wont make sense if I spell that right now.
As an analyst you dont want to indulge with guys who dont understand these thing’s.
Let the MARKET close below previous weeks low,

NIFTY got a breakaway GAP today which can put temporary breaks on ongoing trend.
To avoid that,
todays GAP needs to be filled till tomorrow.
For overall technical structure,
We have to refer the PRICE range of previous week.
Since past week was very significant for our MARKETS,
We would require a weekly close, above or below previous weeks high or low.
Until we get that,
the overall direction is likely to stay sideways on TIME front.
So for now we have this 400 points range to trade.
19,800-20,200 is the range for now.

a break on either side would trigger a trending move in that direction.
FRIDAY is a key CYCLE date,
Expecting a directional move to set in from FRIDAY.
19800 is also a key pattern support.
If that breaks a decline towards 19591 and 19391 would open up on spot.
Let’s see,
I think exiting days are coming back for INDEX OPTION buyers.

ONGC is looking strong,
this strength is coming in back of major breakout which is happening in ENERGY sector.
also the rally in BRENT is supporting the STOCK in recent days.
We are expecting BRENT to test 110$ in next few weeks.
In extreme short term as long as BRENT stays above 88 we are expecting a print of 101 very soon.
Coming back to (ONGC) now,
Any dipp towards 180 is an ideal opportunity to enter for target of 198 and 210 in coming days.