Nifty 50 Index
Short

09 Jan 2025–Nifty 23557 is a point of interest, stance bearish

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Nifty Stance Bearish ⬇
I had guided for a bullish week if you had read my last weekly report. Everything looked up, as we had moved close to 766 points in the last expiry. Surprisingly, tables changed fast enough, on Friday we had a down day and then on Monday, we had an immense fall. You would not believe that the low made on Monday was 23557 and the final close of the weekly expiry is also 23557.
Over the week, Nifty fell 610pts ~ 2.53%. We are yet to retest the 23460 swing low of the last week and if that does not hold then the next point of interest would be 23357.
The change in my bias was informed via the tradingview minds and I hope those of you who had subscribed/followed for my updates would have got its email.

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Meanwhile, I got my algos tweaked. It took me close to 2 months to reconfigure the logic for Nifty. Most of you would be aware that I had a successful BankNifty algo, but when the exchanges removed the weekly expiry - it stopped working. It took me a while to reprogram the same on Nifty as its character is totally different from BankNifty.
The daily test results will be published on "viswaram substack" and also on my X handle. The idea is simple, I have 2 directional algos
Bear Day
Bull Day

All I have to do is run the correct one. The profits and losses are limited, so it is a safe algo setup. If I get the direction wrong, I will have to settle the losses, whereas if my direction is right - it will mint money.
The algos have a strange discretionary entry criterion "which direction to run". All I can disclose right now is that, even if nifty does the ultra volatility move (just like the meme coin), my algo will handle it.

Disclaimer