Nifty 50 - Analysis

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10 APRIL'12 - NIFTY CRUCIAL LEVELS- 5229 & 5193

NIFTY AS OF CLOSE 09 APRIL : -

Let us focus on wave ' B', it has started from 5136 and end up at 5379, total length = 243 points.

Now important supports will be like this -

 61.80% of wave 'B' will be 0.618 of 243 = 150 => 5379 - 150 = 5229

Yesterday Nifty has seen a low at 5228.

Next is

76.40% of wave "B" will be 0.764 of 243 = 186 =. 5379 - 186 = 5193

So trade below 5228 will give you fall up to 5193 and then free fall for panic selling.
Fresh short can be excuted only below 5228 as this point may result some mild recovery. Who knows if mild recovery can convert to reversal. well, no sign as of now but I am adding all possibilities.

Regards,
Praveen Kumar
http://www.viecapital.com/
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…
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