Is it Possible to identify early reversals using 54 period Time cycles?
Oct 14, 2024
It is fascinating to see how accurately Time cycles can predict early reversals on the Bank Nifty Index, in the same way as stocks.
Is it possible to Time the Index? Can we use methods to predict when Index prices will reverse with the exact date and time?
Look at the below chart of Bank Nifty with time cycle applied on Daily frame chart that was anticipated on 22nd August 2024 in our Monthly report
Bank Nifty 54 Days Time cycle anticipated as on 22nd August 2024
Anticipated as on 22nd August 2024
In the month of July, Bank Nifty was down by 1.51%. Top draggers of bank nifty included Axis bank losing -7.84% and IndusInd Bank losing -2.51%, weighing down the overall index.
On the weekly chart, we can see that the index is at crucial juncture and prices have are now at the upper trendline that has been halting the majority of the up move. However, over short term the prices are near the strong breakout level and also at 54 days cycle low.
54 Days Time cycle - On the daily chart, we can see that 54 days Time cycle has been forming lows on most of the occasions. The recent fall also was arrested near this time cycle level. Over short term, breakout above the Gap area of 51200 can resume the upside move to 53500 levels which is the lifetime highs.
In a nutshell, break above 51200 will resume positive trend in Bank Nifty to 52800 followed by 53500 levels. On downside 49600 is crucial support and any breach below this is must to open bearish possibilities. However, over short term the wave counts and Time cycles are pointing towards positive possibility as a higher probable scenario.
Bank Nifty 54 Days Time cycle happened as on 14th October 2024
Time cycle works well to catch early reversals even on Index. For Bank Nifty, 54 Days Time Cycle works extremely well on daily time frame. As expected, we successfully captured reversal in Bank Nifty. Prices made low exactly near our cycle in the first week of August and we anticipated upside reversal above 51200 levels. Index broke 51200 levels and we witnessed rally of more than 3200 points which is more than 6% and made a life time high near 54467 levels.
Time trading needs to be combined with Price action as well for precise entry. It is also possible to derive price target using Time concept.
Next date and time to track is on 18th October 2024. Around this time one can see the pattern and price action and if favorable can pull the trigger to capture another move in Bank Nifty.
In nutshell, by combining this science of Time trading one need not worry about missing out the trend as if time is in favour, then one can predict moves well in advance.
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