NIFTY’s Recent Gann Cycle Date and Outlook

The recent Gann cycle date on September 2nd has significant implications for the Nifty index. The high reached on that day now serves as a formidable resistance level. If the index fails to break above this resistance, a potential downward correction could be in store.
When we say a break that actually means a break on a closing basis.
The current spot price support for Nifty remains at 25000. As long as this level holds, the index is likely to remain in a consolidation phase. However, a break below 25000 would signal a potential weakening trend.
Keep a close eye on the INDIA VIX. A reading above 15.2 indicates heightened volatility, which could be a precursor to a market downturn. Additionally, we anticipate a surge in volatility starting next week.
The time period between September 9th and 29th is expected to be particularly volatile for the Nifty and other major markets. Traders should be prepared for significant price swings during this time.