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!

A sense of change is in air for NIFTY lets look for that from here on

https://ganninsides.com/2024/07/03/nifty-continueds-to-hold-its-price-and-time-supports/

NIFTY from today have entered in an uncertain TIME window.


As I discussed in above post  the duration from 10-15,july is going to be a tough tine period simply because,
during this TIME span of these 5 odd days NIFTY and other indices are going to complete critical cycles from 4 different lows.
In simple words multiple cycles are coming to an end of their move till 15th,july,
perhaps this also means that we should look for a change of some kind in overall market behaviour.

ideally we should get that.
lets see.
for now lets move on and discuss critical supports on PRICE front.

On spot for NIFTY major support is still placed at 23980.
A break of 23980 would break the entire uptrend which has been going on since june lows.


So if TIME has to trigger a REVERSAL then PRICE has to break this support level of 23980.
its as simple as that.

Dont go with the flow of anticipations,
wait for MARKET confirmations.

NIFTY continueds to hold its price and time supports

NIFTY has been fermly holding its PRICE and TIME supports which we discussed on 28th,june.
So no reason to turn bearish yet,
below i have shared the revised supports for NIFTY  so plz do take note of that.

before we move to that  just like to add one more point here.

Last time i advocated on securing 75% of NIFTY from all long trades above 24150.
So far if you have not done that then be very watchful because markets could register a surprise decline of 4 to 5% in a quick fashion.

So in that sinario you may not get that appropriate time to incash on your trades.
Hens dispite index looking fit and fine dont go after them with heavy positions.

avoid that atleast until 10-15 july,
because from 10-15 july  on NIFTY we are going to complete 4 different cycles from 4 different lows.
These cycles includes HARMONIC TIME CYCLES,
VIBRATION TIME CYCLE,
HEXAGON DATES,
and,
PRICE and TIME SQUARING DATES.

So when these many cycles are aligning together its tine to stay highly cautious.

No matter index continue to make fresh highs on  daily basis.

approach has to be same for next 12 days

Lets end this with price and time supports for NIFTY

On PRICE front supports have shifted higher to 23980 from 23750 and on TIME front mondays low is our nearby support.
So as long as these supports are held trend would continue to stay positive for now.

https://ganninsides.com/2024/06/28/whats-next-for-nifty-post-the-test-of-24000/

whats next for NIFTY post the test of 24000

NIFTY as expected have printed the level of 24000 on spot and have entered in its resistance zone of 24000-24150 which I discussed in 26th,june post.
As a trader if you have been long on NIFTY since 6th or 7th of june like me then this is the point to secure 75% of your profits,

No need to go short yet,
but when we discussed on a topic of RESISTANCE in a strongly trending market then thats always a point to secure max portion of profits from your trades.

Trend is still strong on price front support have shifted higher to 23750 from 23500.

So as long as level of 23750 is held buy on dipps and stay long approach would still kee working  but from here prefer to chase longs with thin volumes.

On TIME front short term cycles have been bullish for NIFTY and they would continue to stay this way as long as spot manages to close above yesterdays low of 23805.

If in case INDEX register a daily close below 23805 then that would turn the cycles on opposite side which ideally would put pressure on markets and in that sinario we could see NIFTY testing levels of 23350 and 22850 on downside in coming days.

Today we have quarterly close as well along with monthly close so there would be some index edgesments in final hour of trade today.
Lets see how that goes.

broadly there is no point anticipating for a REVERSAL  as long as PRICE&TIME supports are held.
So better not to waste time in that.

thats it for now.
Lets see how things goes from next week.

holding 23500 NIFTY can print 24000 which happens to be its next major resistance

https://ganninsides.com/2024/06/23/time-to-stay-a-bit-cautious-on-markets-if-critical-supports-breaks-post-potential-turn-dates/

As we discussed in sundays post the lowest intraday low of 21st and 24th,june would draw a line between a trend continuation and a trend REVERSAL.
so holding 23350 trend on TIME front for now would continue to stay strong.
A daily close below 23350 would trigger a sharp trend reversal on NIFTY.

On PRICE front  as I have been discussing here since past several days  that holding 23250 which is a pattern support the structure of NIFTY is likely to stay BULLISH.
with recent price expansion that support have shifted higher towards 23500 on spot.
so holding 23500 NIFTY could test level of 24000.
which also happens to be a next major resistance.
the zone of 24000-24150 is going to be a very strong resistance on upside.

So bottom line is holding 23350-23500 zone technical setup is likely to remain strong.
Possiblity for a REVERSAL would persist only below mentioned support zones.

TIME to stay a bit cautious on MARKETS if critical supports breaks post potential turn dates

gann insides weekly MARKET UPDATE

As we discussed on this TUESDAY

UPTREND continues to stay fermly intact for MARKETS

more or less markets did what we were expecting,
things are likely to get more intresting from next week.

lets discuss NIFTY first

NIFTY during the week continued with its trend of higher highs.
the overall weekly range was bit narrow but thats not a sufficient reason to think other way.
On tuesday I shared the level of 23250 as a critical pattern support and a trailing stop loss for all existing longs,
so as long as this level is held the price structure of NIFTY is likely to stay BULLISH,
If in case 23250 breaks then INDEX would enter in a corrective territory which would drag price towards 22850 on spot.

On TIME front as we discussed on tuesday   for NIFTY potential turn dates are on 21&24,june

the manner in which NIFTY turned lower from fridays high could actually trigger a trend reversal in NIFTY,
the amount of voletility which we saw in fridays session have giben us preliminary indications for a direction change.
since FRIDAY was a turn date and on MONDAY we hav another turn date so a probability of a turn is significantly higher.

still we should wait for market confirmation before taking trading positions.
and we shall get that conformation once INDEX starts to sustain below lowest intraday low of FRIDAY and MONDAY.

for medium term

On weekly charts significant support on NIFTY is placed at 22900  so as long as 22900 is held on weekly closing basis  the broad trend for NIFTY would continue to stay BULLISH.
so irrespective of intra-week voletility if INDEX fails to end the week below 22900 then INDEX would continue to make new higher highs post minor pullbacks.
A TOP cannot be established as long as key supports are held on weekly charts.

now lets move forward 2 S&P;500

S&P  continued with its formations of higher highs during the week but as we discussed on this TUESDAY  on price front 5530 would be a point of resistance,
On Thursday morning it tested the level of 5505 and post that INDEX vitnesed a pullback.
As of now we would have to consider it as a normal pullback  but if INDEX starts to register a daily close below 5400 mark then that would trigger a minor degree REVERSAL  which should drag S&P towards 5280 on downside.

On TIME front next week on 24th&25th,june we have a strong turn dates for all major U-S-INDICES so we would have to look for the combined intraday low of both these days very closely.

If price and time meets their criteria for a trend reversal next week then  that would trigger a type of a REVERSAL which BEARS had been waiting for since past several months.

1 very critical thing which happened during the week was a potential REVERSAL in NVIDIA.

until now everyone who has been a part of the ecosystem of financial markets would be aware on a fact that entire tech sector in U-S is depended on the trend and trajectory of one stock which is NVIDIA.
a section of human being on this planet have started to think that future of our planet would depend on how much more NVIDIA can deliver with its advanced AI chips.
Frankly everyone has turned so future focused that present reality doesnt really matter.

jokes apart  it looks like something has ended at 140 on NVIDIA.

Just to be more sure we would be looking for a print of 118 on NVIDIA if stock prints the level of 118 then it would register a medium term reversal which would have targets of 98 and even 87 during next few months.

A turn in NVIDIA would practically mean a turn in entire market.
so do watch out for that.

thats it for now,
there is lot to watch out for next week.
intresting week coming up.

ONGC UPDATE

ONGC has been one of the strongest STOCK in whole of PSU sector baaring DEFENSE,

technicaly setup is strong and during next few days we would continue to expect further higher highs here above MAY high of 292,
Looking at its pattern placement we would prefer to buy this STOCK at CMP and on dipps till 260 for potential target objectives of 300 and 324 on cash in coming days and weeks.

UPTREND continues to stay fermly intact for MARKETS

Trend continues to stay fermly strong for NIFTY  as we have been discussing since 6th,june.

So all trades still has to be on long side.
Anticipating a trend change in a LOW VIX environment is not going to work out.
Hens as professional traders look to chase INDICES on long side atleast till market register a change of some kind either on PRICE front or on TIME front.

so lets quickly discuss critical points on PRICE and TIME front.

PRICE

NIFTY

for NIFTY  all price patterns are bullish so the easy thing is to respect patterns and stay with long trades with trailing stops.

until friday our trailing stops were placed at 23020 which from today would be revised higher to 23,250,
so keep it short look to buy all dipps which ends above 23250 on spot,
initial signs for REVERSAL would only come when the given level is broken.
On upside 24000 is a gennuan resistance so if trailing stops are held most probably INDEX should print 24000 before making a turn.

S&P

S&P after clearing its major resistance of 5350 have extended its rally further.
Higher highs should still continue as long as PRICE sustains above 5350  but turn cautious if INDEX starts to give a daily close below 5400.
On upside 5530 is a point of pattern resistance,
watch out closely what INDEX  does when it reaches there.

TIME

On TIME front as far as INDICES holds last fridays low on closing basis setup would continue to project further higher highs.
specificly for INDIAN MARKETS 21st and 24th,june are very critical turn dates.
So watch out for a potential trend change closer to these dates.

similarly for U-S-INDICES potential trend change dates would be on 24th and 25th,june.
So from early next week expect voletility to return back which would put pressure on markets.

thats it for now.