Today it was necessary to give time in the market. There were many difficulties in climbing up the market but there was no problem in falling down the market.

The weekly range at 9:15 AM was extremely crucial. The market was at the top of the weekly range. When the market opened at 9:15 AM, the resistance was visible at 19600, which was weak towards top at 87%, and the support was visible at 19600, which was the weak towards bottom, at 91%. In the next few moments, the resistance once again shifted to 19700 and the percentage of support also started declining. But in the next few moments, the resistance came back to 19600 and the percentage also started declining. And the support also shifted to 19500. This means that overall, the resistance at 19600 has shifted from weak towards top and support from top to bottom. Shifting has happened on one side weak towards top and on the other side weak towards bottom. It means that one thing was likely to happen and the other thing had already happened. Then time passed and we had to wait for the correct value. When the correct value arrived, the trade was struck. Time passed and the weekly range was giving us assurance that 500 is the weekly range of Nifty, it has not closed for so many days, above that 600 was expected to be 0. 400 already became 0 near 185.

Time went on telling that the percentage of resistance’s volume gradually became stronger and the percentage of support’s volume gradually became fixed at the same place in stability. In such a case, the possibilities were becoming such that the resistance would become strong and the support would create a ‘State of Confusion’. Today the market moved according to Rule No. 8 of the Chart of Accuracy 1.0. The resistance was pulling the market upwards, so if the resistance was the weak towards top, the market could go up to 650 (as far as the weak towards top means one diversion before that). The support was pulling the market down and had already shifted to the bottom. Where the shift had taken place, it could have gone one diversion down i.e. up to 450. Both remained in the opposite direction of each other.

Extension of resistance tried to take the market down till the diversion of 500, on which the magical line was drawn in the morning.

Talking about the best trades of the day, two trades were very good. When the market was trading on that magical line when the support was weak towards bottom and has shifted and the resistance is yet to shift. In such a situation, the market was favoring the support. The pull was on the bottom, and could sell on the maximum diversion above 600 i.e. 1PE. From here the candles started falling down. Now the market came down. The market was likely to slide down till the diversion of 500 as resistance was pulling the market up. The market went up to 500 extensions. And with the extension of 500 the reverse was also done. But that reversal was not very tradeable as the market tried to see a blood bath from here. The market took a reversal despite the resistance not leaving the market and the support being a little weak towards bottom. This was a profit booking correction. After that, came the matter of consolidation. This phase was of about 50 minutes. There were new buildups. The resistance kept trying to get stronger slowly. Only one percentage remained stable. Support slowly came on the verge of getting stronger. And slowly the support shifted from top to bottom, it also became strong. But the percentage of resistance increased from 84% to 80% and gradually started moving towards getting stronger. Now both resistance and support have become strong. Accordingly, the market once again fell down with a bang. This happened because resistance was strong and support shifted from bottom to top. It fell below the divergence of 550. Went up once but came back. It was appropriate to take the trade here as well i.e. 2PE. When the support was the weak towards top, the weak towards top at the new position means buying from the bottom. That is, a diversion of 550 creates a bullish trade. Shortly after 1 PM, the support turned strong again. The market again came to the diversion of 550. After this, the market started trying to reach the extension of 500 as well. Going forward, the volume also turned weak towards top, then strengthened. Today, the market closed on support. Today there was no possibility of becoming a hero from zero. So overall 1PE and 2PE were good trades. Today the market has closed at 543. It was a fantastic market.

Sensex Top Gainers And Losers

Asian Paints, Kotak Mahindra Bank, ITC, Bharti Airtel, Axis Bank, ICICI Bank, Nestle, Tata Motors, HDFC Bank, HCL Technologies, Maruti, and Hindustan Unilever were the top losers in the Sensex pack. On the other hand, shares of IndusInd Bank, JSW Steel, Titan, Bajaj Finance, Tech Mahindra, and Power Grid closed with gains.