KOTAK;BANK; today tested another PATTERN Target of 1,696 on cash. So 1 CYCLE is completed for now. Going forward it require a rally towards 1,755-1,775 on cash, before next leg lower resumes.
Next leg lower will certainly go below 2022 lows. As per Gann Patterns, next significant break down is placed below 1,620. We shall discuss further Targets once it breaks 1,620.

NIFTY; requires a rally before fresh sell off. On Friday we discusse the importance of 17,472 on NIFTY SPOT. Today it went slightly below that, but recovered quickly. There are more then 2,reasons why 17,472 is critical? Not only PRICE, wise it’s important TIME wise too that is an important level. If you are expecting a short covering rally on MARKETS then you don’t want to see, NIFTY closing below 17,472. A daily close below 17,472 and a print of 17,391 on spot, would rule out a substancial rally on upside. Level of 16,855 would open up below 17,391 but not in short term. There is a TIME breakdown below 17,391. According to PRICE PATTERNS next major test for NIFTY would be at 17,150 on downside.
During the month of february we may test 17,150. In case there is a rally after BUDGET or FOMC MEETING that would be an opportunity to add fresh shorts. There would be a rally, but size of that rally is something we would figure out later. NIFTY BANK too need to break 39,000 for further slide.

ICICI;BANK; completed the (VIBRATION PATTERN) Today, with the print of 816 on cash. Since DECEMBER our view has been very BEARISH on this STOCK. Multiple times we mentioned that, break of 870 have extremely BEARISH consequences for MEDIUM TERM and we are witnessing that currently.
But Nothing goes in a straight line, this too will have its bounce, but trend will remain BEARISH. 760 is a key level, holding it, we can see some relief, below (VIBRATION) point of 760 we would look for 721 and 685 on cash.

ADANI;ENTERPRICE; is going through a CYCLE correction, we discussed on a possible CYCLE TOP on all group STOCKS on 22nd,DECEMBER, since then STOCKS were falling gradually but the correction entered in its next stage in past week. Literally whole world is BEARISH now, 1 month back this was not the case. Even without any report, STOCKS would had fallen. Last month, we were looking for 3,010 For medium term on ADANI,ENT, but it has gone way below that. Need to relax here, next leg lower should resume below 2,500 on cash, for 2,100 and 1,650 in coming months.

NIFTY; got that waterfall decline which we had been anticipating. It also completed our (HEXAGON) Target of 17,578 on spot Today. We had been mentioning this level since late DECEMBER. We also got (HARMONIC CHANNEL) breakdown below 17,680, So in short we got everything which we required for a medium term decline. Remember medium term. Today we achieved our short term projections. So we prefer to take part of our profits here.
NIFTY is near a Gann line closer to 17,472, so there could be some relief, there has to be a serious focus on U.S. MARKETS, if S&P breaks 4,120 then we have to consider alternate sinario Which is quite complicated. Let’s see, we are not there yet.
So FOLKS in INDIA should not get carried away with this decline. Let wall street join on downside, then actual fun will begin. Plenty of STOCKS too have achieved their Targets Today, not possible to UPDATE all today, will do it gradually.
Today was TIME SQUARING DATE, which we posted last week. Next week we have plenty of EVENTS but no CYCLE DATE. Take things easy and let EVENTS pass.

ADANI;PORTS; what a fall! Forget 671 which was our PATTERN Target stock is now Trading at 590. Better to take this as windfall profit and exit, getting crowded now, I prefer to take profits from the table and relax!

NIFTY;BANK; today confirmed a significant PATTERN breakdown breaking the DECEMBER low of 41,569 on spot. We finally got the Missing piece of the BEARISH (JIGSAW) which we have been discussing publicly for several weeks now. Well from our side PUZZLE is completed. Matter of TIME,we are in for that move on downside.
I only needed the break of DECEMBER low on both INDICES, which I got, this further validates my BEARISH view. I still await participation from U.S. MARKETS, looking forward for that in next couple of days.
For (NIFTY) things went quite extreme below MONDAYS low, 23rd,jan, as we discussed earlier was significant CYCLE date. Going forward it should break low of 17,761 and move towards the (HEXAGON) Target of 17,578 which has been our pending downside level to achieve.
We have UNION BUDGET next Tuesday, which would be an important EVENT for MARKET, going with this structure we cannot have dramatic turn on other side, may be 1/2, days of relief nothing beyond that. Let’s see.

ADANI;PORTS; gave a daily close below 764 yesterday, which confirmed next leg lower at all degrees. Took no TIME to test 1st PATTERN Target of 730 on cash. Next VIBRATION POINT is at 691, followed by 671, posted on it on 23rd,Jan, focus has to be on selling rallies.

KOTAK;BANK; still have very week structure in all private sector BANKS. We discussed same point on 19th,DECEMBER, back then, plan was straight forward: sell, and sell it on all rallies. Next leg lower here was projected below 1820, for PATTERN Targets of 1756 and 1696 on cash. Today it achieved 1756, quite slow to fall but moved down as expected. Setup is still week, gradually should test 1696 as well.

NIFTY, is at a point where anyone can think what HE or SHE wants to think. Because MARKET wont challenge your view, there is nothing happening, which puts BULLISH or BEARISH arguments under any question. There is something for both camps.
Every time NIFTY goes up, we anticipate a move towards 18,300 which is the mid point of CHANNEL, but MARKET disappointed us twice during the month, let’s see this TIME. MARKET is taking extra-ordinary TIME to move, this may be happening due to EXPIRY or BUDGET, but Technically this is a week market which should be sold on rally till 18,300 or 18,370 max. As long as 17,850-18,000 Zone is held on spot the BULLISH narratives would continue to persist.
Last week we highlighted 2,critical dates for this week, 1 of them was yesterdays date, so TIME wise NIFTY have to sustain below yesterdays low. Next date is 27th, let’s see.