NIFTY have broken below its pattern support of 24480 today so the overall uptrend on daily charts have finally vroken.
One very important point to note here is,
this pattern break has happened just one day before a critical event of budget which is going to be presented tomorrow.
So is there any kind of message which market is trying to convey us?
we should find that out in next 48,hours.

for now its clear that  near term long trades are not on offer after todays pattern break.
So from here whether markets enters a consolidation phase or a correction phase that we would have to closely monitor,
As long as 24000 stays intact on spot for now there are chances are that markets would remain in a consolidation phase.
but if something comes out of BUDGET and markets break below 24000 then dynamics would change dramatically.

for Indian markets the risk is also growing from U-S-INDICES because after NASDAQ    S&P too has broken below its pattern support which is going to add more pressure in global indices so there is clear overnight risk for NIFTY if S&P registers a sharp INTRADAY decline on any given day.

If you are someone who has been anticipating a deeper correction in NIFTY then thats going to unfold only below 24,000.
because so far its only the daily setup which has damaged.
the weekly setup is still strong and that will take time to turn.

So thats it for now lets see how things goes post BUDGET.

https://ganninsides.com/2024/07/10/a-sense-of-change-is-in-air-for-nifty-lets-look-for-that-from-here-on/

NIFTY have successfully navigated the uncertain tine window which was going on since 10-15,july.
As we discussed in above post,
technicaly we were looking for a trend reversal  but the only condition for that was a break of pattern support which was at 23980 until yesterday and from today that support have shifted higher towards 24220 on spot.
So as long as this pattern is intact we should keep getting higher highs on NIFTY and dispite some mixed signals from TIME until these PRICE supports are held INDEX is not going to break on lower side,
no chance.

all other equations including some very important TIME factors wont come into play as long as vibration structure of PRICE stays ferm for NIFTY.
As an analyst our job would begin only when markets starts to turn lower below its supports.
As a trader it is an easy market which frankly needs no analysis.

things doesn’t goes on like this we all would agree on that.
there is a saturation point for everything in this world and equity markets around the world are reaching that point may be not today or tomorrow but somewhere during next 15 odd days we should be reaching there.

if markets fails to get periodic pullbacks then that would be quiet dangerous for all market participants   because that can trigger unexpected 1 or 2 day sharp selloffs simillar to what we saw on 4th,june.
if positioning in futures markets continues to stay accesively bullish then such selloffs would continue to occur frequently and post every selloff we would see retail traders helpless and under deep sorrows just like we saw exactly 7 weeks back.
markets surely recovered from that incident but many traders have not!

for INDIAN MARKETS budget on next Tuesday is certainly a market moving event so better be careful with that.
this market only requires a small trigger to test and break its supports.

Now when it comes to U-S-INDICES things are not that great.
All INDICES are trading on their own world
People are calling it a rotation shift from tech to smallcaps but volumes does not support that argument.
We have seen markets going down with heavy volumes and when they went higher volumes were significantly lower.

still these things doesn’t matter as long as critical supports are held.

18000 for NASDAQ COMPOSITE and 5510 for s&p;500; are major vibration pattern supports.
everything would stay fine as long as these supports are held.

thats it for today.

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 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/

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.

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.

NIFTY the momentum have slowed a bit  but trend still continues to be fermly on upside.


atleast as long as support of 23020 is held on spot there is no scope for any kind of a meaningful REVERSAL for near term.
Higher-highs should continue.
Tonight we have a MARKET moving EVENT in form of FOMC meat,
Looking at the technical setup even on S&P,
this EVENT should resolve on upside for all INDICES.
lets see,
expecting markets to stay mostly higher till FRIDAY.

NIFTY had fermly held its supports which we discussed yesterday.
with the break of 23050 today INDEX is on its way towards fresh all time highs.

supports have shifted higher to 22800 on spot now.

TIME wise market should stay positive till 12th to 15,june,
because there are no major CYCLE DATE until then,
15th,june specificly would be more critical.

So buying dipps ideally should work out till 15th,
Anything till 22800 would be safe  below that better to avoid!

NIFTY intraday ranges should keep getting narrower from here.
Expecting markets to get normal post todays weekly expiry.
Last 2,days have wiped out trading capital of many retail traders so be very responsible with your position size and the overall approach which  you desire to take directionaly.
As far as trades are cunserned that obviously has to be on long side.
On upside 23050 is a resistance once that breaks new highs shall come.
Under 23050 INDEX would stay within uncertain shades of its technical setup.

On downside support is at 22450-22550  as long as this zone is held buy on dipps trade could work out.

If this support breaks a test of 22100 would be on cards.

Trade with thin volumes the upmove from yesterdays low seems artificial to me.

still it should be fine holding supports.

In my weekend posts since past 2 weeks I had constantly advocated to add SEPTEMBER puts to capitalize on any kind of Market decline  and during tuesdays decline those puts went up by almost 4 to 5 times.

We would again get simillar apportunity to reenitiate simillar trades.
Ideally post 15th june i would update on this.
Until then look to follow the short term levels.