Did Nifty Just Complete the Washout?
Yesterday I shared a detailed note with subscribers highlighting that today had the potential to be an important day in the context of the ongoing decline in Nifty.
The condition I was watching was very clear — a lower low below Monday’s intraday low of 23697, followed by a recovery from that dip. Such a move would complete a structure similar to the March 2022 style washout pattern, where the market briefly breaks prior lows before reversing higher.
That sequence played out today.
Nifty did break below Monday’s low, creating the required lower low, and then stabilized afterward. Structurally, this satisfies the key condition that I had been highlighting over the past few sessions.
However, the reversal structure is still in progress. For it to fully validate, the market now needs follow-through strength on the upside over the next few sessions.
If that follow-through emerges, today’s low could very well become the pivot from which the next rally begins.
I have been emphasizing this possibility repeatedly, and yesterday I shared a detailed note explaining the framework, the link to which is attached below.
For now, the structure is in place.
The next few sessions should reveal the market’s true intent. 📈
https://ganninsides.com/2026/03/11/the-market-awaits-its-moment/
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