How far can Nifty Correct due to Corona Virus

Nifty has seen 4598 points around 30% fall in less than a month suggesting we have entered bear market and heading for recession if we fall 50% which is quiet possible during this uncertain time when human life is in danger. The Virus which started from China has now spread in 164 countries and WHO has declared it as an “pandemic” . We will try to analyze how far can Nifty fall in such situation based on gann and astro cycle. We are heading for a recession and following gann 90 year cycle when we saw the crash of 1929-30. 1930+90 is 2020.

Nifty Weekly 233 SMA

Only Time Nifty has broken its Weekly 233 SMA was in 2008 when it closed below it. Based on Historical data Nifty generally corrects 30% more once it close below its 233 SMA on Weekly time frame. Current 233 SMA is at 9338 so if we calculate 30% of it will come around 3000 points so we can see fall towards 6357-6100 as per historical data.

Nifty Supply Demand Analysis

Once 7893 is gone next major support is at 7340 very important gann number and break of that can see fall extending towards 6869/6638/6342.

Nifty Gann Angles on Monthly Time Frame

This chart also suggests fall towards 6300-6100 odd levels

Nifty Astro and Neural

Any bacterial and viral disease is born from the South Node. On the 22nd March 2020, Mars will change its house from Sagittarius to Capricorn.Mercury at Greatest Elong on 24 March  Mars needs Jupiters support and that will happen on the 30th of March 2020. Jupiter will join Mars and Saturn in Capricorn which means we should see a fall in Corona Virus cases and we should be able to develop some vaccine which will help in changing sentiment to positive. Moon at Ascending Node on 30 March suggesting we might see some relief rally around this time.