Author: SAAHIL BELIM

MY NAME is SAAHIL and I have been actively trading in EQUITY MARKETS from 2014. I have been using Gann theory in my TRADING JOURNEY since 2016. my approach to Gann THEORY is totally different than what you may have seen or heard in various YOUTUBE VIDEOS. I have developed multiple MATHEMATICAL MODELS which are based on METHODS described by sir gann in his courses. I never had used any kind of CHARTS to identify the TREND. hens I never share CHARTS to illustrate my view. I like to keep things SHORT and to the POINt!

TECHM Stock Outlook: Potential Reversal on the Horizon

TECHM is poised for a significant price and time reversal. Yesterday’s high of 1761 closely approaches the critical price level of 1800. On the downside, support stands at 1680 on cash. Should the price break below the 1680 support on a cash basis, a sharp decline toward 1625 and 1565 is likely within the next few days. On the time front, October 24th and 25th are very strong cycle dates.”

JSWSTEEL: Act Now Before the Price Drops

JSWSTEEL potentially reached a significant high on October 4th at 1063. While the mathematical analysis is promising, additional technical indicators are required for confirmation. From a price perspective, a daily close below 970 could signal a potential downward trend. If JSWSTEEL breaches this level, it may be pulled lower towards its Gann angle support at 942. A break below 942 could further exacerbate downward pressure, potentially leading to a decline towards 900 in the near term. Regarding time-based analysis, there are no significant cycle dates until November 6th.”

NIFTY Breaks Support, Bearish Trend Resumes

NIFTY’s breach of the critical support levels at 24,750-24,660 has signaled a renewed downward trend. Despite this downturn occurring amidst an incomplete retracement, we can anticipate a somewhat bumpy road ahead. Therefore, I recommend selling on rallies towards the 24,900-25,100 resistance zone. Potential targets for this bearish move include 24,350 and 23,900 in the coming days. Additionally, we expect volatility to increase significantly starting next week.

AXISBANK: Eyes on Results, Support at 1095

AXISBANK has its results due today evening. Before this critical event, the stock has been positioned bearishly. There is no nearby time cycle due until October 30th, so for now, we just have to focus on price. And on the price front, the medium to long-term support for this stock is placed at 1,095 on cash. A break of 1,095 should drag prices towards 1,055 and 1,015 in the next few days. As long as the stock holds 1,095, it’s likely to consolidate until October 30th.

Harmonic Analysis Points to ITC’s Short-Term Correction

ITC likely formed a significant high on September 27 at 528. If we analyze the stock’s movement using basic harmonics from the March 12 low, this high appears to have been reached with mathematical precision. Looking ahead, we anticipate ITC undergoing a medium-term correction, potentially targeting 444. In the short term, the stock may test 472 in the coming days. While ITC is generally a slower-moving stock, we expect increased activity starting around October 18.”

Nifty Finds Footing, But U.S. Market Challenges Loom

It was a relatively quiet week for Indian markets, which was not unexpected. As I predicted in my last Sunday’s post, the Nifty stabilized from October 8th. True to our expectations, the market did indeed stabilize from October 8th. This has created a temporary support level for the Nifty at Monday’s low of 24,694. As long as this support holds, we should see a rebound towards 25,400 in the coming days. Once this pullback is complete, I anticipate the downtrend to resume, potentially targeting lower levels around 24,400 and even 23,800 in the near future. “If NIFTY fails to retrace and falls below 24,694, near-term prospects could become more challenging. While my primary focus is on U.S. market developments, I anticipate a significant decline in NIFTY over the next few months.”

On TIME FRONT for INDIAN MARKETS I “Predict a significant shift in market trends between October 21st and 28th. Investors should be prepared for potential volatility during this period.”

US Market on the Brink: Technical Analysis Predicts Sharp Decline

https://ganninsides.com/2024/10/06/countdown-to-market-volatility/

Tick-Tock: Countdown to Market Collapse Begins

“Given our previous discussion, a market reversal in U.S. indices is imminent, with a heightened risk period extending through October 21st. Key dates to watch are October 14th for the Dow Jones Industrial Average and October 16th for the S&P 500, both of which align with significant cycle points. While the recent market activity may appear subdued, underlying developments are poised to trigger substantial shifts in the broader market landscape.”

On the price front, S&P tested the 45-degree angle resistance at 5810 on Friday. As discussed in last Sunday’s post, this level of 5810 was calculated from the intraday low of August 5th. Along with 5810, I have been highlighting the range of 5776-5866 on S&P as a very important resistance zone. Based on this analysis, I had already advised some of my U.S. clients to consider adding shorts on December futures contracts at 5810.

“I’m anticipating a potential sharp trend reversal in the U.S. markets starting next week, possibly around the 14th or 16th of October. It should be an interesting week to watch.”

“DLF: Bearish Outlook”

DLF is in a medium-term downtrend. The stock hasn’t done much since the major high registered on April 1st. For the past six months, the stock has been consolidating in a defined range. However, we now believe that this consolidation is likely to break to the downside.” If the stock remains below 870-890, it should break its swing lows of 815 and 800 in the next few days. From a timing perspective, major price fluctuations are likely to pick up starting on October 21st.”

Bullish Bias in NIFTY, but IT Sector Could Spoil the Party

NIFTY is still consolidating, and this consolidation has been happening with a positive bias. I expect NIFTY to continue this way for a few more days. If something goes wrong, it will likely be from the IT sector. Still holding 24,750 and 24,660 on spot. This pullback should continue towards 25,300-25,400 before turning lower. A turn is due in any case, but a turn after some more pullback would be more ideal.