With today’s gap higher, the NIFTY has cleared all its resistances on the price front. On the time front, with a daily close above 24,600 on August 13th (which was the August 11th intraday high), the time cycles gave a clean breakout. It was only a matter of time before the price would have also joined, and the index chose a perfect day to generate that breakout.
As discussed earlier, August 14th and August 18th were significant time cycle dates. The most specific cycle date is likely going to be August 18th, because that’s going to complete a full circle on the time cycle front from its September 27, 2024, top. So now, with things aligning well on both the price and time fronts, it’s a good time for us to turn bullish, or rather, I would say, extremely bullish for the next few weeks.
Of course, short-term things would keep happening, and we would obviously keep discussing that regularly. But directionally, we would be looking for a fresh all-time high for the NIFTY, above its September 27, 2024, peak of 26,277 on spot, as late as October 16, 2025. Maybe it could come much before that, but that’s the maximum time it could take. There is a simple math applied behind this date; try to figure it out first. If you still find it tough, then do let me know, and I will explain it.
Today’s rally is also significant on the geometrical price and time equation, which at a 1×5 angle from its April 7th low of 21,743 comes at 24,815 on spot. The calculation is a bit complex, but what we need to understand is that as long as this price level is holding, the trend for the index is likely to stay extremely bullish. In the morning, I already shared the near-term upside targets in a broadcast list, so I won’t mix it up here. Let’s wrap things up for now.”
gann,insides 