NIFTY is still holding its supports, (18,000) is that level now the break of which, would mark a REVERSAL. Things would stay fine as long as these support levels are held. It’s taking more TIME to complete this rally. fridays decline on (NIFTY) was not able to go through its supports. but on (NIFTY BANK) it broke below critical support of (42,800) so here yesterdays move is an opportunity to add selective shorts on major BANKING names. it’s less likely that NIFTY or NIFTY BANK registers a new record highs. it’s only a matter of when supports are broken? Once supports breaks we have perfect PRICE&TIME cimmetry for a waterfall decline.

NIFTY is still holding on, it made a new high for this calendar year yesterday but still things continue to stand where they were. No material change on near term setup from what we discussed on TUESDAY. MARKET is yet to register a proper reversal. Major support still stands in zone of (17,800-18,000) on spot. Once we close below this zone, market should resume its primary trend which is on downside. We are still in that TIME zone of 28th,APRIL to 8th,MAY so market can stay bit more volatile, as per TIME this rally was suppose to terminate within this TIME window. Lets see whether it ends or not. Global markets gave more clear signs of reversal, accept NASDAQ all other INDICES have broken down. Once NASDAQ COMPOSITE breaks (11,600-11,800) that too would signal a break down, which would drag it below 2022 lows. in INDIA, NIFTY BANK had been a key reason for this extended move, if that breaks below (42,800) that would be a reversal sign. Watch out for (42,800) very closely, we have been of the opinion that, BANKING INDEX is well poised for a dramatic turn on downside,but for now lets wait, until supports breaks.

NIFTY is not going as per expectations, it requires to register a REVERSAL to resume another leg lower. We have been sharing LEVELS which so far has held, but once those levels breaks we shall conform next major and furious move on downside. MARKETS have posted incremental upside above (17,863) but this has not changed the texture of overall structure. Yes in short-term as long as supports are held market can hold on, but beyond that nothing has changed. The downside risk has not at all gone off from any equation. “In beginning of APRIL we focused particularly on current quarter to fulfill our BEARISH objectives, we also posted that this would be a journey of 12,weeks, out of that we still have 8,more weeks to go, so enough TIME still left, once reversal is confirmed MARKETS can give up 4% rally of APRIL in just one week. We also have been concentrating on (INDIA VIX), the monthly close of APRIL is one of the lowest monthly close on (VIX). There has been very interesting coincidences with MARKET TOPS at very low level of volatility. Closer to 10 (VIX) is perfectly poised for a substantial move on upside. “that move should take (VIX) above 21 in next few weeks. This would get very interesting. According to TIME MARKET is in a critical TIME zone between 28th,APRIL to 8th,MAY, we would still look for reversal within this TIME zone. Now where would that reversal sign come? That zone have shifted higher to 17,800-17,850 on spot. Once market close below this zone, it should be over.

NIFTY with the exceed of (17,863) have pushed up PRICE breakdown point. Earlier breakdown was placed in the zone of (17,424-17,491) on spot, with todays move the levels have shifted higher to (17,550-17,650). Other then this nothing has changed. This certainly would not go well with the majority but we do have certain reasons to continue with our BEARISH view. The only thing which is holding up is breakdown point, PRICE have managed to hold its supports, once that breaks mentioned levels, we are likely to enter the phase of furious move on downside. So ideally we should break those support level next week. From tomorrow MARKET’S are entering very strong TIME window till 8th,MAY. Once these supports goes we shall witness TIME and PRICE breakdown. Global Markets as expected earlier have turned lower and have confirm their TOP. NIFTY is bit late but that too would turn down along with other MARKETS. Lets see, interesting days ahead.

NIFTY still continues to carry underline weakness under its surface. Although PRICE has not reacted much, the FORM of this market is very week. As we have been discussing here that the counter-trend-advance from MARCH lows is more or less have ended at 17th,APRIL high. we got some evidence of that in past week. The TIME structure for (NIFTY) is very bearish. PRICE is holding up because of NIFTY BANK, going forward that is going to be a critical INDEX to track. On NIFTY BANK we mentioned support level of 41,500 which was held in past week. Since PRICE hav stretched higher, we are considering an alternate plan here, which requires a higher high above 42,850 and then a lower low below 42,100 to complete its (HEXAGON PATTERN) NIFTY too is holding up to levels of 17,424-17,491 on spot the break of this zone would resume next leg lower. Since last MONDAY PRICES are absolutely flat in defined range. As long as it stays under 17,863 it is likely to turn down anytime. TIME zone from 28th,APRIL to 8th,MAY, would be absolutely critical, if market doesn’t break down now then it has to break within this TIME window. Lets see. if 17,863 breaks then break down level would shift higher.

NIFTY is confirming our BEARISH view, the patience which we have kept in last few days is likely to pay off very well, in days and weeks ahead. As we highlighted ON MONDAY there were initial indications for a sharp TOP, and MARKETS have now confirmed that. The daily close below (17,655) have turned short-term CYCLES bearish. Going forward we would look for a break of (17,424-17,491), this should not take much time to break. and once this zone breaks all upside possibility would go away. In our opinion the bounce from march lows was only a counter-trend-bounce which got stretched for 1 extra week. Nothing really changed despite NIFTY going above (17,800) Till june end we are still looking for levels of (15,183) on NIFTY. We are watching global MARKETS also very closely specially EUROPEAN and U.S. MARKETS are getting very closer to a major trend reversal. we should get some hint of that till friday, markets lately have gone very dull and sideways, hens would UPDATE in greater detail as and when activity picks up. Our outlook remains very BEARISH for U.S. MARKETS specifically.

NIFTY have given initial signs for a sharp TOP at Todays high, but some more work is required to conform it completely. As we discussed in previous week, an authentic reversal would be a 2,step process which shall begin once spot close below 17,655, below that we will look for break of 17,491-17,424, with todays decline possiblity of breaking this zone have increased substantially that too, within this week. Let prices confirm their reversal, until then better to wait. TIME wise we have 2,very important CYCLE date this week. Most Important would be TOMORROW on 18th, which would be (HARMONIC,+,TIME SQUARING DATE) and next would be on 21st, which would be a (VIBRATION DATE) watch out for both these dates. NIFTY is struggling between weakness in I.T. and strength in BANKS I believe that BANKS too should role down soon, once 41,500 breaks on NIFTY BANK this rally should get its TOP. Lets see watch out for 41,500 primary indications for reversal would b below it.

NIFTY is still in hunt for a TOP, Yesterday we had a very important CYCLE date for MARKETS . As posted earlier once MARKETS close and sustain below 11th,APRIL LOW, short-term TIME CYCLES would turn BEARISH and that would put a ceiling on this rally. There are 2,points which would conform reversal from this point. 1, A sustained trade below (17,655), and 2, A break of (17,491-17,424) on spot. Once MARKETS fulfil both these criteria we are likely to witness an epic collapse in MARKETS, which can carry (NIFTY) towards 2022 lows of )15,183) till JUNE. We have said this multiple times in past, infact in past week we concentrated particularly on this quarter for our BEARISH view to play out we are looking this as journey of 12,weeks this is going to be a long journey and we are in very primary stage of overall path or the scheme of things. It won’t be an ideal thing to judge MARKETS based on their recent price action. We are of the opinion that, MARKETS are likely to play out similar PATTERN which it played during JANUARY of 2022 lets see, better to hold on until certain PRICE levels are broken. We are sure that levels will break, but no harm in waiting.

NIFTY is searching for a TOP, it’s in its final stages of this counter-trend-advance from MARCH lows. But we still need some PRICE evidence which confirms our view, we are watching level of (17,491) very closely. Once spot breaks (17,491) we would be convinced that fresh leg lower have resumed, need to wait until that happens. From TOMORROW, MARKETS would face test of TIME. We have a very critical TIME CYCLE date Tomorrow. For MARKETS short-term TIME CYCLES would turn BEARISH once they sustain below Tomorrows LOW. Watch-out for Tomorrow’s low very closely. As I have mentioned in past, we get rapid downsides only when short-term TIME CYCLES are BEARISH. So if you are looking for immediate decline wait for MARKETS to sustain below tomorrow’s low. Lets see, this week would be important for MARKETS globally.

NIFTY probably is approaching the max-projections on upside, to resume next leg lower spot have to break 17,200,
As long as market stays above 17,200 the next leg lower would have to wait to unfold.
In short-term let the MARKETS do what they are doing,
We are more focused on the MEDIUM TERM picture, and MARKETS are approaching a now or never moment for BEARISH PATTERNS which have to play out within this Quarter.
This Quarter has just began so lets see,
Next 12 weeks would be very interesting.
TIME wise we are expecting a Trending move after 11th,APRIL.
until 11th, markets can consolidate at higher levels.
Watch out for Volatility Index at 12 there is high level of calmness in MARKETS and that is going to add max pressure in days ahead.
U.S. MARKETS too are getting to terminal point on upside expect some downside there from Today.