2019 Nifty made Bottom on 29 Jan based on Gann Price Time Squaring and we saw almost 1500 Points move on upside when we formed top on 03 Jun @12103 perfect Gann Level and we corrected 1500 points and bottomed on 23 Aug very Important Astro date. Nifty staged a spectacular rally after 20 Sep when we saw Corporate Tax Cut and the rally is still in progress. Nifty clocking double digit gain of 13 % in 2019, Most of Retail Investors lost money in 2019 as Small and Mid Caps continued to bleed as Indies were down almost 50 % from there All time high and Individual Stocks correcting more than 60-80%,Dejavu of 2008.
Yearly chart have formed an Bullish Engulfing candlestick. As we can see in below chart whenever Nifty rallies in Double Digit we tend to see Consolidation/Correction in next year.
2020 being a Leap Year where We generally see Correction in January month. Valuation Wise also we are trading at the Higher End as Nifty is trading with a PE of 28 so upside seems to be capped between 13000-13100 till we see Expansion in Earning.
Monthly Gann Chart
Monthly Chart with Gann Angles is shown Breakdown below 12000 for a move till 11600/11100. Breakout above 12300 for a move towards 12666/13100.
Monthly Chart with Supply and Demand Zone
Monthly Trend line Support at 11600-11700 break of that can see fall towards 11100/10666/10100. Monthly Trend line Resistance is at 13310.
Nifty Projected Price Pattern
Important Dates as per Time Analysis :
Below dates can see Trend Change in Market.