Clear signs of accumulation visible in market

So Tuesday didn’t go as planned. Market moved the exact opposite way. But honestly, no big surprise. In Monday’s note, I had already mentioned this week will be bearish and mostly ‘sell-on-rise’, with NIFTY y heading toward the 24650 support zone. And that’s where we are headed.

What happened on Tuesday was something I expected for Wednesday (one day before expiry). But I missed one point — Ganesh Chaturthi holiday on Wednesday shifted the market flow. That’s why fall came early.

Now let’s talk about tomorrow’s view:

On Tuesday, the Pivot Percentile (PP) was tight and Nifty opened below support. That gave us a sharp bearish day. Sellers dominated buyers by 225 million. But in the last 30 mins, that volume was cooled off to just 75 million. That shows accumulation is happening as we get close to the support zone.

The new pivot has shifted to 24773 with PP at 0.25%. Support is still around 24650. If that breaks, next stop is 24500.

If we open above pivot, Nifty may hang higher for the day with intraday resistance at 24777.

But overall, my view is sideways with a bearish tone.

One caution — don’t short the market tomorrow or near support. Let the support break first Or Instead, look at that as an opportunity to slowly accumulate strong stocks for a swing move.

BANKNIFTY has already broken support. Next level to watch is 53600.

And again, reminder — this pullback is healthy. Nothing to panic. Better to stick to your setups and prepare a watchlist. So when the market turns, you’re ready.

Best approach is to pick short-term positions, maybe for 6–7 months. Finance and Metals will likely lead the recovery. Auto parts and IT are still strong sectors.

Personally, I’m holding GARUDA and $NSE:BELRISE. Both are showing strength. If they persist through this bearish phase, I’ll add more. Remember, leaders deny to fall in pullbacks.

That’s it for today. Trade safe and hope tomorrow is profitable for you.