Time Map January 18th to 23rd.

 StockZodiac

Reservoir of Wisdom

 

We were expecting a nice bounce back that will give relief to the trapped bulls, and an opportunity to create fresh short positions and movement in the market somewhat showed it. The real worry is that bounce is very weak and more worrisome is the fall is also not happening as expected. From the point of view of a speculator, current markets are the worst, current markets are best for swing traders, as investor markets are always good for buying and selling.

 

Technical – a very clear 18251 is the hourly chart CT, and on the daily charts, the CT is 18816. We strongly believe that markets need to correct more around 17560 levels, which would make it very strong, and consolidation would be complete. Ideally, a weak bounce followed by aggressive selling should be the scenario in the coming few days.

The candle of the last 4 weeks indicates the 17700 level is attracting a lot of investments, and probably breach would send a panic sell-off from the algo and system traders. The Crisis levels would be 17240, and 16680 & a nightmarish level would be 16140(5% probability).

On the upside Crossing of 18145, and 18245 will trigger and confirm daily CB, with an extension target of 19025, (the assumption is January 12^th low won’t get breached.).

 

TimeMap – As per the solar date, we have breached January 10^th Low, which means ideally looking for short positions would be logical. On January 18^th SUN 0 PLUTO, aspect is giving broad market negativity, and as always, a natural disaster or accident would hit the market sentiment, generally, a margin of 72 hours is kept for the actual event. We suggest till 23^rd January be very cautious while taking derivative positions.

 

January 16^th, 2023: Monday: Normal day

Moon in Swati, and Tithi Navami – higher opening and quick rise cannot be ruled out. It is a very good trading day, swing traders on an hourly chart can make a lot of money, buying is recommended in the opening hour, and post 14.10 look for sell trades. Overall volatile trading day.

January 17, 2023: Tuesday: Bad day

The divergence indicator would give the best results. Many counters would witness the trimming of long positions, so wherever leverage is high, such counters can be looked for shorts. Sell and buy would reward big.

January 18, 2023: Wednesday: Good to build speculative positions.

Tithi Ekadashi is auspicious, and it is observed seasoned speculators are very active. Nakshatra Aardra is good for aggressive action and momentum indicators, big money can be made by holding winners. Big money can be made by using signals of the momentum breakout indicators. SUN 0 PLUTO influence would be seen on PSU stocks.

January 19, 2023: Thursday: Bearish Day

Volatility would be at its peak, a tough day to make money.  Closing of the market would be in opposite direction from the starting levels. Sell and buy would give better results.

January 20, 2023: Friday: Bearish Day

A gap-down opening is expected. Markets are in a tight spot; the Pakistani crisis would hit regional politics. Honestly, my personal view is bearish from Jan 18^th to 25^th, and would avoid taking fresh leveraged long positions.

 

My expectation is one more panic selloff is needed, to consolidate, and drive the weak hands out of the market.

  

 

Futurologist.