Swing trading using #Cycles of #Gann Theory using the LAW OF VIBRATION and the Magic of MATHEMATICS. Born in 1996 started active Trading since the Age of 17! Prefer to keep things short and simple! for quaries email me at sahilbelim9152@gmail.com
On the NIFTY, I have been waiting for a daily close below its January low of 22,786 for further price expansion on the downside. Until we get that, the market will likely continue to bounce from this zone. More broadly, the sell-on-rise structure will remain intact.
“In fact, on February 15th, I shared a post with my subscribers discussing potential setups for the NIFTY and the S&P 500. I encourage you to give it a read.”
https://ganninsides.com/2025/01/31/nifty-bank-nifty-approaching-critical-resistance-levels/
“On January 31st, I advised my subscribers, in a published post, to consider short positions within the 23,500 to 23,700 range on the NIFTY spot index, targeting 22,800. The index reached this target today, as anticipated.”
https://ganninsides.com/2025/01/29/evaluating-market-outlook-ahead-of-the-union-budget/
The NIFTY’s short-term outlook, encompassing today and the coming days, hinges on a critical support zone located between 23400 and 23500 on the spot market. A decisive break below this zone on a closing basis would open the door for a measured decline towards 23100. Looking ahead, we anticipate heightened market volatility beginning around February 13th. This expectation stems from significant cycle dates falling on February 14th, 18th, 19th, and 20th. However, provided this support level remains intact, the NIFTY is expected to maintain its stability.
“The next 2-3 sessions for NIFTY will be extremely critical, as flagged off in Wednesday’s post. Resistance for NIFTY spot is at 23,500, and we are almost reaching it today. Any price between 23,500 and 23,700 would be an ideal opportunity to capitalize on fresh short trades, with initial target objectives of 22,800. The budget is a key event risk, but our cycle studies point towards further lower lows going forward. Similarly, Nifty Bank is nearing a critical resistance zone between 49,700 and 50,300 in cash terms. An inability to breach this resistance could trigger a 5-7% decline in the near term.”
“With the Union Budget on the horizon, it’s time to question our bearish narrative, which has guided our market analysis since late September.”
“Indian markets are about to head towards a very important event: the Union Budget. So, it’s an ideal time to review our approach, or rather, I should say it’s time to relook at our bearish approach, which we have been carrying since late September.”
“Our bearish outlook remains intact as the NIFTY spot has yet to reach our projected downside target of 21700. We will continue to capitalize on rallies by shorting, aiming to solidify our bearish position.
To optimize our strategy, we have two options:
1 Reduce trading activity: Minimize market participation while maintaining our short bias.
2 Await a rally to 23500: Utilize a potential rally as an opportunity to establish new short positions.
Our overarching objective is to maintain a short-selling bias until our projected downside target is achieved.”
The NIFTY index currently faces resistance at 23,500. Support for the index lies within a critical band ranging from 22,800 to 22,600. A decisive break below this support band could trigger a sharp decline, potentially leading to a significant market correction on immidiate basis.
As previously noted, with the India VIX exceeding 17, a sustained unidirectional move in either direction appears unlikely. Historically, elevated volatility levels often precede a decline in asset values.
On TIME front Even without considering the Union Budget, the 3rd and 4th of February are significant cyclical dates for the NIFTY index. These dates are likely to witness heightened volatility in the market.
Regarding the time projection for a potential test of the 21700 level, I anticipate this occurring by March 8th. However, there’s a notable possibility that this level could be reached as early as February 19th. This date holds significance as it marks the 144th day since the NIFTY’s September 27th high.
The Union Budget is certainly a significant event for the Indian markets, but it’s not the only factor driving market dynamics today. The concurrent Federal Open Market Committee (FOMC) meeting and the impending January series monthly expiry tomorrow are likely to significantly elevate excitement levels among market participants.”
“In conclusion, the NIFTY index is poised for a period of heightened volatility. By closely monitoring key resistance and support levels, and remaining cognizant of both domestic and global events, investors can navigate this dynamic market environment more effectively.”
https://ganninsides.com/2025/01/17/prepare-for-turbulence-key-dates-risks/
On January 17th, I shared a post with my subscribers in which I discussed the market setup for Indian and U.S. markets. The overall plan was to stay on the short side on both markets. Specifically on the S&P 500, I pointed out January 24th as a price and time squaring date, which usually indicates a trend reversal. So, a turn was likely, and today’s decline further strengthens the bearish outlook going forward. Despite the S&P moving higher in the past week, I maintained the same outlook. I would expect that we likely have a double top breakdown from the 6100 zone. Let’s see if this view holds true; then we are likely headed towards 5600 in the next few weeks. “As I previously warned, bearish and precarious market conditions were evident in leading tech stocks like NVIDIA and Microsoft. I expect these conditions to deteriorate further.”
“NIFTY major support positionally stands at 22,600-22,700 on spot. Until this zone gets tested, the setup remains of selling on rise.”
gann,insides 