DLF possibly is preparing for a turn lower,
STOCK recently have confirmed the SQUARING PATTERN breakdown which is a very strong indication for a REVERSAL.
good possiblity that it may have registered a major high at 521 which got printed on 31st,july.
For short term PATTERN targets on downside would be 456 and 425 on cash.
Today is a minor CYCLE date here so todays low would be important,
but the major CYCLE is starting from 30th,august,
so would expect trending phase after that.

NIFTY is getting towards that resistance zone,
we have been mentioning this range as strongest resistance point since last 2,weeks.
(19,600-19,800) is a safe point to add up fresh shorts, also the risk reward is favourable here.
we are in a very narrow trading range so as an OPTION buyer you have to give yourself extra amount of TIME,
For now we are maintaining downside objective of (19,140) on spot,
below that we would look for (18,975) which is the HEXAGON PATTERN target, discussed on it on 3rd,august.
Lets see,
it would take TIME,
but should happen ideally.

NIFTY;BANK; is up today, so I feel it’s an ideal TIME to analyse the structure.
In Gann theory we analyse MARKETS using 2 factors, 1st part is based on GEOMETRICAL proportions of PRICE and TIME,
and the 2nd,part is based on CYCLES which all GANN followers refers as (CYCLE ANALYSIS) this is not something which is applied to only TIME its applicable on PRICE as well.
within CYCLES we can do multiple sub-divisions of TIME and PRICE ratios,
anyone who have studied GANN COURSES would easily understand the whole process.
it comes under (LAW OF VIBRATION) framework which is entirely based on MATHEMATICS.
Now let’s go back to NIFTY;BANK;
if I consider a move from MARCH 2023 LOW to JULY 2023 high as a start of a multi year BULL MARKET then unfortunately there is one problem here,
according to one basic guideline in CYCLE ANALYSIS a fresh CYCLE breakout cannot over lap with the previous range in this case the pullback in NIFTY BANK should not have entered under 44,151,
but it entered and that eliminated the case for a CYCLE breakout.
This certainly wont reflect on CHARTS for now.
Now when that part of ANALYSIS is clear, we need to focus on short term setup.
and when we analyse it for short term we can se that it have given HEXAGON and HARMONIC CHANNEL breakdown.
based on that we would prefer to sell all upsides till 45,000 for downside targets of 43,500 and 42,600 on cash.
A daily close below 43,450 would trigger a SQ,9, breakdown which could open up a way for a waterfall decline. until then it is likely to be a controlled fall.

$S&P;500; gave that short term pullback which triggered with the print of (4,487),
This happened on very much expected lines,
in our review here on 3rd,august we were very clear on a short term trend reversal,
and we have seen MARKETS trending lower gradually since early AUGUST.
not only that volatility too have picked up which going forward will put things in better prospective.
We also mentioned on NASDAQ earlier which have clearly broken down,
DJI is the only INDEX which is in some what better shape,
but that might not last for long.
Coming back to S&P now with 2,consecutive daily close below (4,388) it have confirmed a SQUARING PATTERN breakdown,
targets for that are placed at (4,300) and (4,210) on cash in coming days.
Any recovery attempt is likely to fail in zone of (4,460-4,490).

NIFTY is nearly a % away from its projected SUPPORT and the projected RESISTANCE.
We have continuesly mentioned (19,140) as a PATTERN Target and zone of (19,600-19,800) as strongest resistance.
MARKETS are doing BACK and FORTH in this broad range,
Since NIFTY missed the print of (19,140) until 18th,AUGUST so CYCLES have extended further.
Frankly there are no significant CYCLE DATES till early SEPTEMBER,
so from here PRICE have to move on it’s own the major TIME activity picks up only in SEPTEMBER now,
lets see we are not expecting any change in trajictry until then.

APOLLOTYRE is trading exactly at 45° ANGLE from its recent TOP.
Todays intraday LOW of 384 is going to be very critical.
1,more lower low sequence below that will signal short term trend reversal.
Infact a daily close below 380 would trigger a SQUARING PATTERN breakdown which will open up targets of 362 and 344 on cash.
TIME wise 24th&25th,August would be very important CYCLE dates here.

GODREJCP is putting in a major REVERSAL here.
TIME CYCLES have already indicated a trend reversal but PRICE is yet to conform that.
For PRICE conformation we need a lower low below 997 on cash, once that happens, it would signal a major breakdown.
It is likely to be a medium term reversal which could last for several months.
BELOW 997 it should test 964 and 934 in near term.
SQUARE;OF;9 structure is also turning here which is signaling the test of 900 in few weeks.

NIFTY did what was needed on 2,very critical dates which were on 11th, and 14th,AUGUST.
No doubt the print of (19,140) is still pending but INDICES registered fresh LOWS which for now is enough for PRICE to continue with the BEARISH tone.
the lower low below (19,296) on MONDAY have turned the weekly structure BEARISH.
this turn on weekly setup have happenned after the LAST week of APRIL.
So that’s something to consider going forward.
The bounce from lower levels appears as an opportunity to sell on higher levels.
On upside the zone of (19,600-19,800) is the strongest resistance zone.
Things cannot change as long as spot stays under this zone.
Lets see, what markets does till 18th,AUGUST,
if (19,140) does not prints till FRIDAY then TIME periods could extend till 25th,AUGUST.
There are severe cracks developing on NIFTY BANK FINNIFTY and FMCG INDEX this is something which has to be monitered in next few days.
Overnight nothing is going to happen, things certainly will take it’s own time to unfold.

RAMCO;CEMENTS; is about to hit a strong TIME;CYCLE;DATE tomorrow.
Tomorrow’s low would be a key level to watch for near future.
According to me this STOCK made a durable TOP at 953 which got printed on 6th,JULY.
Along with TIME symmetry, PRICE structure too is indicating further lows going ahead.
Once price goes below 809-817 it would indicate a HEXAGON breakdown which would open up Targets of 775 and 745 on cash.
Not only for RAMCOCEM tomorrows date is also important for GODREJCP,
After 17th,aug, next CYCLE dates would be 21st, 24th,25th,31st,AUGUST and 8th and 13th,SEPTEMBER.

DXY is the most important asset which has to be viewed very closely from here.
I have been someone who have maintained the BULLISH view on $ dispite near 15% decline from its TOP which it registered on 28th,SEPTEMBER,2022.
There is long list of ANALYSTS who thinks that $ have got its TOP for AGES.
but I prefer to disagree with that.
The entire decline from 114 had no evidence of a long term trend reversal infact this have appeared as a healthy pullback in broader scheme of things.
For short term it have confused many technical analysts with its marginal lower lows.
For me the final lower low here at 99.58 which got registered on 14th,july is an important low because that got printed at an exact TIME distance from its SEPTEMBER 2022 highs.
Anyone who do some simple MATHS will easily figure that out.
So going forward I would expect DXY to hold its JULY low and resume its primary uptrend.
106 is still a resistance which we discussed on 24th,MAY,
above that 111, 114 and 120 is possible in next 16 months.
Watch out for USD-JPY, that should sponsored the upside.