NIFTY (25 April,12- intraday update) : failure of 5241 is inviting trouble



Intraday update:
Above is 10 minutes chart of NIFTY spot. Very cleary, it is missing major resistance of 5241. I am already highlighting the importance of 5241 from yesterday.

Turning shy from 5241 can turn as short signal any point. I am short from 5232 on NIFTY FUT with my small SL @ 5242. 

Fall can be up to 5150 or 5135.
Contracting triangle can do wonder.
Hope at least you are not in long,

Have a good day,
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…
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