NIFTY: the game begins now
Would get more intresting if it closes below 17,764. TIME finally is showing its dominence now
As I posted earlier, the character of this dipp will lay down foundation for further course of action!”
Most likely we have to get a follow through of this in next week
This dipp needs to take down the top of previous HARMONIC TIME CYCLE which was 17,356 on spot
Whether it will do or not? Let market decide that
Very intresting week coming up!”

NIFTY and NIFTY BANK: are standing at critical resistance
2,days back at 17,920 I posted that we are close to complete this move, atleast for now
No matter if it keeps going up, without a dipp, it makes no sense
To chase or short this market
The character of next dipp would give more clarity for next move
With respect to individuals view on markets
Whether long or short
Whatever your view is, for short term it’s time to be more watchful
Today being a TIME SQUARING date
Possiblity is with todays high, NIFTY may square out PRICE
But the conformation would come only below 17,800 on spot
Until 17,800 holds the pattern wont activate
So 1 number holds the key for next week; that’s 17,800

NIFTY, is close to completing this move for now
Coming dipp, would clear the next path for markets
Would UPDATE in detail when dipp takes place
Till then will relax
19th,august is a date which would clear near term tragictry for markets
Next week on 22nd and 23rd,august, would mark the beginning of fresh HARMONIC CYCLE
more on that later
No changes on medium term view
But for short term, need more clarity

NIFTY, towards 17,850 this level came on table on 5th,august
Which was a (TIME SQUARING DATE)
Going forward to turn things bearish for short term, NIFTY have to close below todays low, whatever is made during the day
Because today is a (VIBRATION DATE)
Since last 5 vibration date NIFTY have not closed below the low of VIBRATION DATE
so need to keep a close watch on that
I have been waiting for last 3,weeks to pull the trigger on short side
Specifically on BANKING stocks
But they have been moving up
The moment I see them turning, wont hesitate to press sell buttons
One after another
Would wait until I get that signal
I avoid half,hearted trades
Till then would keep my focus only on INDEX
For NIFTY major PRICE CYCLE support is at 17,550, Any reversal probability opens up only below 17,550 on spot
Until this holds, we can’t challenge Traders, who have stated that, market would only pause when it reaches MOON
Let’s se
This is a major week

NIFTY still have that space to travel towards 17,850, but the problem from last 2 days is intraday real body dispite Gap,up and market moving higher has been black
Does that holds any significance, my chartist friends can elaborate more on that
17,400 is a strong pattern support for NIFTY
But do break of 17,400 signal a trend reversal? If you are not aware on patterns then you have to look little bit backwards
Since the lows of 15,183 in june, the max price correction point wise on NIFTY was 420 points, which was from 16,276-15,856 if any dipp, exceeds this length on price and time scale, Expect trend to turn south
This is an easy way to figure out things
If anyone who have gone through the book (TRUTH OF THE STOCK TAPE) by sir Gann, must have applied this
Many traders have asked this question from last 2 days, hope this helps
Next week we have 2 TIME CYCLE dates on 16th and 19th,august
Which would signify setup going forward
There are multiple TIME CYCLE date starting from 16th, would UPDATE on that later

ICICI BANK, is trading is at all time highs, also at highs of 2022
It appears solid on charts but making fresh highs against major TIME CYCLES is not a good sign for slightly medium term
In short term it may perform well
But as an investment, this is not an appropriate space to enter
To complete its correction, structurally it has to go sub 600 before another move upto 1200
Historically incomplete TIME corrections have later resulted in mass wealth destruction
Which is also referred as an asset melt down
Same would be applicable to all equities including the most loved NIFTY
In INDIA there are no such examples
But in U.S. last time it happened back in 1929
Where prices kept making new highs, despite bearish TIME CYCLE
And suddenly markets collapsed like anything
Hope that history do not repeat again
But need to be prepared for such things
If market scales new highs
Then this could be a reality
Letz se
How things shape up from here
For me this is a good time to sell some holdings and raise cash levels

NIFTY needs such volatility to flush out easy longs from system
Todays rejection is similar to what we saw on 4th,august
But needs more push to turn the wheels down
As mentioned earlier, short-term Trading from here, would get extremely tough
Below 17,348 NIFTY is not strong
To test 17,850 NIFTY have to sustain above 17,474. If you have been following this space then you should have get the underline importance of these values
There are certain conditions attached with PRICE, But TIME always represents 1 sinario, which continues to stay bearish
Tough to digest but the problem for EQUITY MARKETS is the bearish annual cycle
I easily would had turned daily or weekly cycles
But I cannot twist TIME rules based on situation
So TIME structure of this market cannot be revised
I am sure, markets would validate my point in coming days

Nasdaq,with yesterdays high of 12,855 may have completed a very important (HARMONIC PATTERN), But to call it a top, need to wait for certain levels to break
Structurally entire rally from june lows seems only a counter trend bounce
Many have called recent rally, a start of a new (BULL MARKET) But that may not be a case
Coming weeks should make things clear
As far as sentiments and narrative are conserned, that would just take couple of days to change from bullish to bearish
A 5% drop in markets would make majority uncomfortable, and traders would then expect june lows to break
That’s the way people use to trade 100 years back still today, and after 100 years also people would be having same approach
Coming back to NASDAQ, a break of 12,080 to 12,280 would trigger a multi-pattern breakdown
Once this activates downside Targets would be, 11,550 and 10,800
It would certainly break june lows below 10,800
And would take it from there
TIME CYCLES Remains bearish
So that would Sponcer the decline

NIFTY, failed to make a Lower Low on Pattern day
But the good part is it has not made a Higher High as well
So finally short-term TIME CYCLES are turning neutral if not bearish
Need to watch, whether U.S. MARKETS makes a lower low or not
If they does, then they would lead the fall
That would be enough for other markets
Looks unlikely that U.S. MARKETS also vitnes an Inside day
Few EUROPEAN MARKETS are breaking yesterdays low, which is pointing some weakness ahead
For (NIFTY) it’s important to stay under todays low to resume its downwards journey
Since today was also a (TIME SQUARING DATE) todays high and low would be referred till next (TIME SQUARING DATE) which would be on 19th,august
Its bearish if sustains below todays low. But if it starts sustaining above todays high, then have to consider 17,850 on upside
The long term TIME CYCLE remains bearish
But to validate that few price levels have to break
Once 17,000 breaks
The fall would be sharp and noisy

NIFTY if stays under 17,380-17,450 should break 17,000 on spot, going forward
A break of 17,450 would again put NIFTY on sideways to up track
In near term
17,000 is a level which still have to strike down, by market
NIFty below 17,200 has lost its rhythm
Which would lead to access volatility forward
On TIME front a lower low is needed tom
Tough phase ahead for short-term Traders
Stay carefull