We are in the 2nd phase in Nifty

So the market moved exactly as we planned. NIFTY hit the 24750 target and then a Sell-on-Rise move dragged it lower into the close.

This is why I mentioned yesterday that my stance would stay ‘Cautiously Bullish’.

- Now, Nifty’s Pivot has shifted up to 24619.
- PP stands at 0.16%.
- Sellers’ volume is heavier than buyers by about 35 million.

If we connect these points, if Nifty opens below Pivot and breaks the 24550 support, then we may see a quick drop towards 24450. If that level also gives way, then 24250 could come into play.

But remember, individual stocks will still perform better. So stay stock-specific this and next week. Don’t chase breakouts, and avoid buying on MTF for now.

This looks like a shakeout phase — needed to bring liquidity before Bulls take control again. Market trends always move in 3 phases:

1. Accumulation
2. Manipulation
3. Distribution

Right now, we are in phase 2 (manipulation). The key is to spot where liquidity is building — that’s where you’ll find the exact bottom.

BANKNIFTY is still holding support at 23575. If that breaks, 52680 can be expected in the coming days. Resistance sits at 54029.

Sector-wise, construction and sugar look strong for tomorrow.

My Today’s trades and performance:

1. MOBIKWIK – up 18.23%
2. VIMTALABS – up 16.83%

Both hit upper circuits, so we booked full profit. Also fully booked $NSE:OLAELEC.

That’s all for today. Take care. Have a profitable tomorrow.