Nifty 50 - Analysis

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NIFTY – Keep an eye on resistance @ 5230 (shifting lower from 5241)

Today’s view –

Nifty has bounced yesterday from 5160 and that is changing the resistance levels. Let us look how.
Nifty fall from 5342 to 5160 = 182 points
  • First stiff resistance for trade will be = 38.20% from 5160 = 69.50 ~ 70 points.
From 5160 add 70 = 5230

So watch out @ 5230. Cross over will give 5151 (50% rise) and 5272 (61.80% rise).

I still intact on my views that lower support line have broken. We may see dip from higher levels.

  • Have a look at above charting pattern. Its lower top and falling bottom. This kind of structure generally result fall. One view is suggesting that we may have parallel fall of previous ‘c’ wave.
  • A fall from 5379 to 5183 to be retraced from 5342. which end up at 5146.   
(I am giving a very clear way to conclude levels. Do not believe me. Believe the study, I may also conclude wrong).

So over all, trade short only on decisive breakdown. Sooner of later that has to come. There is no running away.  

If needed I will release intraday update too.

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Thanks & Regards,
Praveen Kumar
Mail id – Praveen@viecapital.com
Mobile number – 09893369889
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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