NIFTY IT Index at a Critical Gann Support: A Make-or-Break Moment”

NIFTY IT INDEX – Entering a Crucial Gann Support Zone

Today has once again been a heavy down day for the NIFTY IT Index. The weakness in the index began from February 4, and since then price has been moving lower in a steady corrective cycle. The break below the key 34,500 support confirmed that the trend had shifted into a time-price correction.

On February 4 itself, the index was already down nearly 6%, and the decline has extended further since then.

From a Gann perspective, the index is now approaching a very important time and price confluence zone between 32,500 and 33,000. This is not just a random level – it is a region where multiple price counts, angles and historical support structures align.

According to Gann principles, markets often complete corrective phases near such natural vibration points. That is exactly why this zone carries so much importance.

Right now sentiment is extremely negative, and fear is visible across the board. But Gann always taught that major opportunities emerge when price reaches key mathematical supports while pessimism is at its peak.

The focus from here is simple:

We are not trying to catch a falling knife.
We are waiting for the market to confirm its hand.

What we need to see is:

• Stabilization around 32,500–33,000
• Reduced volatility
• Clear base formation in both price and time

If these conditions develop, it would indicate that the current down cycle is completing.

And if we are right with our Gann calculations, then the result could surprise everyone in the market – because a reversal from this precise zone has the potential to take the IT index back toward fresh record highs in the weeks ahead.

Once proper confirmation emerges, we will look to take aggressive long positions in frontline IT leaders like:

TCS, HCL Tech, Wipro and Infosys

Until then, the discipline is to respect the process of Time and Price.

Gann’s golden rule applies perfectly here:
“Wait for the market to prove the turn – not predict it.”

We stay patient.
We follow the levels.
And we act only when the signal aligns.

https://ganninsides.com/2026/02/04/nifty-it-crash-history-of-recoveries-after-panic-days/