NIFTY after achieving the primary target of (19,375) have again re-tested the PATTERN breakdown zone of (19,563) but this do not change the structure which we discussed earlier. On last thursday I shared long list of PATTERNS which have given sell signals on INDICES. So no change in setup it continues to remain sell on rise. Now when U.S. MARKETS too confirming the BEARISH signals it would be a tough job for markets to sustain at higher levels above (19,600). TIME wise after major signal from 1st,AUGUST next important date is 11th,AUGUST and 14th,AUGUST. For this week, 2nd,half would be more intresting then 1st,half, based on TIME CYCLES we are expecting NIFTY to achieve our 2nd,Target of (19,140) somewhere in between 11th,AUGUST to 18th,AUGUST. this would be a very important TIME zone for all FINANCIAL assets. Let’s see.

CHOLAFIN yesterday printed a very significant low of (1051) on cash. If going forward that low breaks then that would trigger a HARMONIC CHANNEL breakdown, which would open up targets of (987) and (933) in coming days. There is also a possiblity of a HEXAGON breakdown once it gives a daily close below 1024, Frankly we are expecting that these levels shall break, yesterdays low was not only critical on PRICE front, also on TIME front yesterdays low of 1051 is important, a lower low next week, below 1051 would turn TIMECYCLE bearish atleast till 18th,AUGUST, or last week of AUGUST.

$S&P;500; today printed (4,487) the level which we have been discussing since last few days. In our review here on 23rd,june, we were expecting this INDEX to put an annual TOP in zone of (4,450-4,500) but S&P exceeded (4,500) in JULY. there are valid arguments on quality of the entire rally since MARCH lows but let’s not go in that direction the broader point is how long this rally would last? Last week I projected 28th,JULY as an extremely critical date and coincidently markets registered their high on 27th,JULY on S&P, The major problem from late JUNE to late JULY was lack of strong CYCLE dates so that was the primary reason why markets failed to register a major reversal. even intraday moves were quite narrow. Cross-asset misslocation was one more factor which have resulted in choppy markets. Good part is that is back in sinc now. Going forward the volatility should come back. As a trader we are considering this decline as short term reversal. Until we do not get a SQUARING PATTERN breakdown on INDICES it wont be ideal to consider that next major leg lower have resumed. For S&P we would conform the PATTERN breakdown only below consecutive daily close below (4388) on cash. TIME wise we are at a very critical zone with tomorrow being a important date for extreme short term. after tom, critical dates would be 14th, 16th, and 29th,AUGUST.

NIFTY achieved the Target of (19,375) immediately as we discussed earlier. Next we are expecting (19,140) also there are 2,very intresting development’s taking place with todays close, 1,is a HEXAGON breakdown which activated with a close below (19,430) 2,we also got a HARMONIC CYCLE breakdown today with the lower low below (19,327) on spot. Not only that, the most famous, SQUARE OF 9, also turned bearish today, but we dont want to go into that detail for now. The HEXAGON target on downside is (18,975) on cash. this morning I discussed the medium and long term path for markets with certain individual investors, would share here at appropriate time. For now we should focus on short term setup which is sell on rise.

MARKETS have responded well to its major CYCLE date of 1st,AUGUST. S&P ofcourse have held its support level of (4487) but NIFTY broke (19,562) convincingly yesterday. We have discussed downside target objectives on 27th,JULY. According to that (19,375) is our primary target. SETUP have certainly turned as sell on rise until and unless spot avoids a daily close above 1st,AUGUST highs. For near term PRICE and TIME both are indicating some PAIN.

ITC have likely peaked at (499.70) on 24th,JULY. Whether it’s a short term TOP or something above it, that we have to moniter going forward. If ITC fails to clear it’s high till 18th,AUGUST then it probably have registered a medium term TOP. So for investors next 3,weeks are extremely Important. For short term stock recently gave a squaring pattern breakdown in past week whose target objectives are 444 and 423 on cash in Coming days. All upsides till 477 should be utilize to sell.

NIFTY is about to end its BULLISH CYCLE today which started from 14th,JULY. We have continuously discussed 1st,AUGUST as an extremely important TIME CYCLE DATE, not only for NIFTY, TIME CYCLES are pointing a near term reversal for other global markets as well. Once MARKETS breaks critical levels we shall witness the PRICE correction to begin. Until then INDICES are likely to consolidate further. For NIFTY (19,562) and for S&P;500; 4487 continues to remain key support levels. Let’s see how long it takes for MARKETS to break these levels. As analyst we can expect anything, but as a trader we have to wait for conformation before we pull the trigger.

AXISBANK is intresting, there is a perfect double TOP at (990) , this level has been printed twice on 3rd,JULY and on 27th,JULY, also the difference between both highs is exactly 24,days. Anyone who follows (SQUARE,OF,12) would understand the importance of this sequence. this sequence is enough to mark a durable TOP. 1 more lower low below 942 would turn TIME comprehensively BEARISH. PRICE too would break a (HARMONIC PATTERN) below 942 which can drag prices till 904 and if that breaks then it would flash some warnings. More on that as and when that happens.

M&MFIN have broken down below 《45°》 ANGLE from it’s high of 346.55 which got registered on 4th,JULY. it’s a significant breakdown geometrically. As a trade, rally upto 310 should be utilized to enter shorts for downside objective of 262 which would coinside with 90° angle from TOP.

NIFTY with todays BEARISH outside BAR could find it challenging to print fresh highs. Since NIFTY took out (18,458) in MAY it is rising in a MATHEMATICAL sequence. It has been moving up with fixed VIBRATION rate so to break that PATTERN INDEX have to print (19,562) going forward. Once that breaks we should get a dipp or correction towards (19,375) and (19,140) immediately ahead. There is also a risk for a (HEXAGON) breakdown for NIFTY if that close a session below (19,430) so do take note of these levels. Globaly also activity should pick up. Tomorrow on july 28th, all U.S. INDICES would hit an extremely important TIME resistance from October 2022 low. We are watching 4487 on S&P cash as key reversal level. Watch out!