Accumulation in Nifty seen again!

This is the 2nd straight session where NIFTY price closed below the day low but buyers’ volume was higher.

Red candle + green volume = a clear institutional accumulation footprint.

On top of that, the retailers index is going down, which confirms the view even more.

Normally, after yesterday’s strong buyers’ volume, we should have seen a bounce in the index today. But thanks to the weekly + monthly expiry, price was suppressed.

That suppression means one thing – the market can pop out anytime.

Remember the 3-step process I shared before:

1. Accumulation
2. Manipulation
3. Distribution (uptrend)

Right now we’re in the accumulation phase. A manipulation phase cannot be ruled out – it could come as a direct drop or a bounce with sell-on-rise characteristics. So, watch closely over the next 2–3 days.

Personally, I think from next week we’ll enter the 3rd phase – distribution or simply, the uptrend. Until then, accumulating dips whenever buyers’ volume is up is the right strategy. That’s exactly what I’m doing.

Now for tomorrow:

– Pivot is at 24644, PP is 0.13%
– If index opens above the pivot and holds on the hourly chart, we can see a sharp move to 24760 / 24880
– Downside support is at 24570

Sector-wise, PSU Banks and Metals are looking strong.

I’m holding HINDZINC and added REDINGTON today. I won’t be adding more until market breadth improves.

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

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📊 Levels at a glance:

Pivot: 24644
Support: 24570
Resistance 1: 24760
Resistance 2: 24880
Pivot Percentile: 0.13% (sharp move possible)
Bias: Accumulation phase, buy dips on buyers’ volume uptick
Sectors to watch: CNXPSUBANK , CNXMETAL