- Nifty 50 - Analysis

02 April 2012- Technical Update

Will the rise continue? Well, now a day indices are turning choppy during trading hours and those choppy moves run for as big aas 2-3 hours. This can misguide the trading direction or atleast can add high degree of frustration.

Technical levels to watch-

First was 38% from 5135 (starting from 5499) = 5274 - it has crossed and eventually turning stop loss of trading long direction.

Second level is - 5317- which is 50% retrechment. If seems that if Niftyable to sustain above 5317 then we can see further addition of 1% on higher side.

(Do I need to write it in bold letter to make you understand the importance?)

STRATEGY

*Watch out for resistance at 5317.

* You can opt to buy in initial dip for a move near 5317 but those gains will be limited.

* Be cautious at higher levels.

You can visit http://www.viecapital.com/ for daily and quicker updates.

Thanks and Regards,

Praveen Kumar

I’m Praveen Kumar, a seasoned Technical Analyst and stock market trader with over 25 years of experience in the Indian equity and derivatives markets. My passion for numbers and patterns led me to a dual career as a Mathematics Teacher and market technician. I specialize in Technical Analysis, with deep expertise in Elliott Wave Theory, derivatives strategies, and market forecasting. Over the years, my analysis and market views have been featured on NDTV Profit as a financial guest, along with published articles on reputed financial web portals, sharing insights on Nifty 50, Bank Nifty, and stock market trends. As a trader and analyst, I focus on interpreting price action, chart patterns, wave counts, and technical indicators to deliver precise market levels and actionable trade ideas. My approach blends classical charting with modern analysis tools to help traders navigate market volatility. Through VieCapital, I aim to share daily market analysis, trading strategies, and educatio…

Nifty 50 - Analysis

NIFTY 18 OCTOBER 2023 : Look like downside is limited but still expect choppy moves before it shoot up higher. Decisive 19850 and 19930.

30 July 2018: Nifty Elliott wave analysis: As expected it hits a new life time and expected to hit 11450 levels.

NIFTY & BANK NIFTY 14 APRIL 2022 : Watch out for 17400 levels very carefully, If breaks it can come to the levels of 17200.

20 June 2018: Nifty Elliott wave analysis: Relative strength is due to Reverse H&S pattern. Hope DJIA does not crack further.

BANKNIFTY FUTURE CHART ANALYSIS

Join the conversation