DLF Stock: Navigating the Storm Clouds

DLF stock is currently exhibiting signs of a potential downward trend. A decisive close below the 806 level on the cash market would strongly confirm this bearish outlook. If this occurs, we could anticipate a decline towards the 760-720 support zone in the coming days. Furthermore, both January 6th and 8th, 2025, mark significant cycle dates, and we may witness a sharp downturn around these dates.”

PFC: Technical Indicators Point to Continued Weakness

https://ganninsides.com/2024/12/18/pfc-stock-recent-peak-may-signal-a-turnaround-465-445-in-sight/

“PFC achieved our pending cash targets of 465 and 445 during the past week. On December 18th, I shared a bearish outlook here, which was activated with a break of 488. Technically, the stock still seems bearish. December 27th was a critical cycle date here, so a sustained trade below the December 27th low of 450 should further accelerate the momentum on the downside. This should ideally drag prices towards its November low of 426.6. Once that breaks, a move towards 390 to 400 should be on the cards within the next nearest time cycle date, January 21st.”

Nifty & S&P: Range-Bound and Vulnerable to Downside

Nifty: Confined within a range, poised for a potential breakout, with a downside bias.

“NIFTY spent the entire past week inside the intraday range of 20th December. So, obviously, a break either side of the 20th December high or low is likely to produce a very powerful move on that side. I personally would be more interested in a move on the downside. But that does not matter as traders; we always require market confirmations to validate our expectations.”

Nifty Faces Strong Resistance: Downside Risks Remain

“For NIFTY, major resistance on the upside stands at 24,000 to 24,200 on spot. As long as the index stays below this zone, it should only be a matter of time before it breaks its December 20th low of 23,537 and subsequently breaks its November low of 23,263 in the next few days. On the time front, specifically for NIFTY, there is no dedicated major cycle date due until mid-January. This is the most dangerous thing for investors who are hoping for a respite from the selloff.”

S&P: Testing resistance, showing signs of weakness, and potentially vulnerable to a significant correction.

https://ganninsides.com/2024/12/19/time-cycles-and-market-turmoil-sp-500-and-nvidia/

“On S&P, as I discussed on December 19th, we likely have a durable top in place at 6100. In the past week, the index went very close towards that high but reversed back very sharply on Friday. Still, the index is yet to convincingly break the critical support of 5840, as I discussed earlier. Once that breaks, markets should be in for a waterfall decline towards 5620. The open gap of election results day is providing good support to the index. Once that gap fills, our projected higher degree correction would officially get confirmed. Anticipating this to get through post-critical time cycle dates of January 2nd, let’s see.”

Zomato: Analyzing a Potential Peak and Predicting Downside Risk

Zomato’s stock price recently peaked at 304.7 on December 9th, a level that technical analysis suggests might be a medium-term high. The stock is currently approaching a crucial support level of 266. A breach of this level could trigger a steeper decline, potentially targeting 244 and even 227.

For traders seeking higher risk, a short position could be considered. A potential entry point for this strategy would be a bounce towards the 290 level. This counterintuitive approach capitalizes on the expectation of a downward trend.

On TIME FRONT

“Tomorrow, December 27th, marks an important cycle date.”

The Convergence of Dates and the Subsequent NIFTY Crash

The NIFTY’s Descent: A Tale of Timing and Technicals

https://ganninsides.com/2024/12/18/nifty-index-breach-of-support-raises-breakdown-concerns/

“NIFTY experienced a significant breakdown below its critical support of 24,200 on spot on Wednesday. As discussed in the post shared above, the initial target of this major breakdown was projected at 23,800, which the index achieved quite easily.”

The past week witnessed a confluence of three significant time cycle dates – 17th, 19th, and 20th December – culminating in one of the most bearish weeks for Indian markets in the last two years. This bearish sentiment was reflected in the NIFTY’s volatile trading, with a weekly range exceeding 1200 points from Monday to Friday.”

“I have been anticipating this market decline for several days. The current downturn is unfolding as expected, both in terms of timing and severity. As previously mentioned, this leg lower is likely to be more impactful and potentially more dangerous than the declines witnessed in October and the first half of November. However, this major downtrend will likely unfold in phases, meaning that the market won’t decline consistently every day. Therefore, it’s crucial for traders to capitalize on any rallies that emerge to initiate fresh short positions.”

On PRICE FRONT

The NIFTY is likely to encounter resistance in the zone between 23,900 and 24,300 on spot. This range may act as a significant hurdle for any upward momentum in the index.”

On TIME FRONT

“The convergence of two significant time cycle dates next week, December 26th and 27th, is likely to heighten market volatility. Traders should anticipate wider intraday swings and increased price fluctuations during this period.”

“Broadly, I am expecting the NIFTY to drop significantly in the coming weeks and months. However, for the next few days, I would expect the NIFTY to take a breather first. Then, I anticipate a lower low below its November low of 23,263. Finally, it may break its 45-degree angle support of 23,100, which has been calculated from its September high. This would be its second attempt to break this support. And this time, I would expect the NIFTY to finally break through, opening up a genuine possibility for a drop towards its 90-degree angle support, which comes significantly lower. Let’s not discuss that for now.”

Time Cycles and Market Turmoil: S&P 500 and NVIDIA

The S&P 500 experienced a sharp decline yesterday following the FOMC meeting outcome. Prior to this decline, the index had been trading within a relatively narrow range, exhibiting sideways movement.”

https://ganninsides.com/2024/12/03/niftys-double-edged-sword-a-risky-play-for-traders/https://ganninsides.com/2024/12/03/niftys-double-edged-sword-a-risky-play-for-traders/

“We have been diligently monitoring the S&P 500, and I have consistently shared technical updates on its performance. Notably, on December 3rd, I published a post highlighting December 6th as a pivotal turning point based on time cycle analysis. Furthermore, I identified the price range of 6080 to 6120 as a critical resistance zone, aligning with the confluence of price and time-based forecasting models.”

“As anticipated, the index reached its peak on December 6th, reaching a high of 6100. Subsequently, the index exhibited a reversal in trend. Moving forward, the 5840 level assumes significant importance as a critical support level. A decisive break below this level would trigger a more pronounced downside move, with an initial target set at 5620. Further analysis and insights will be provided upon the breach of the 5840 support level. From a time cycle perspective, the next significant date to observe is January 2nd.”

Okay, let’s shift our focus to NVIDIA.

https://ganninsides.com/2024/12/13/nvidias-128-support-the-canary-in-the-coal-mine-for-the-market/

NVIDIA experienced a significant decline earlier this week, breaching the critical support level of 128. As I previously discussed on Friday, this breach had the potential to trigger broader ramifications within the tech sector. Yesterday’s trading session provided a glimpse into this potential impact.”

“On NVIDIA, I would be looking for levels of 110 and 90 over the course of the next few weeks. Markets globally are about to turn extremely volatile from here on, so it’s best not to get carried away with wide fluctuations. Eventually, markets should be headed lower from here.”

“The coming weeks promise a dynamic market environment for traders.”

“The Apollo Tyres Enigma: Unraveling Price Patterns”

APOLLOTYRES may have clocked a lower high at its December 9th high of 557. On the time front, December 9th was a critical cycle date. So, as long as the stock holds below its December 9th high, we would expect this stock to trend lower towards 495 and 465 on cash in the next few days. On the TIME front, the next critical cycle dates are due on January 1st and 2nd.

Nifty Index: Breach of Support Raises Breakdown Concerns

https://ganninsides.com/2024/12/13/niftys-volatile-descent/

“As anticipated last Friday, December 17th emerged as a pivotal turning point for Nifty and other NSE indices. This precipitated a sharp decline yesterday. Today’s breach of the 24,180 support level has unequivocally confirmed a significant breakdown, a scenario I’ve been highlighting for the past two weeks.”

“Today’s intraday low dipped below 24,180, raising concerns about a potential significant shift in market momentum. However, a decisive daily close below 24,200 is necessary to confirm a major breakdown. We await today’s closing price for a clearer picture of the market’s direction.”

“Should the market close below 24,200 today, it would strongly suggest a breakdown with an initial downside target of 23,800 on the spot market. Given the significance of tomorrow and Friday in the time cycle analysis, these dates will require close monitoring.”