Nifty 50 - Analysis

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NIFTY MAY FUTURE: Intraday update based on 5 min chart


NIFTY MAY FUTURE : 

If 50% of rise took out on very next day then it means that market undertone is weak. Sustained trades below 5068 will put the market on sharp edge for fall.

I gave a levels of 5133, very surprisingly it remains untested

It has already formed double top pattern with second top lower than the first one. Strong caution required if you are still on long side. 101% fall hit much earlier than what I was expecting. It might be due to overdone rise yesterday.
Always read few previous article to understand intraday updates. Above charts and levels are for NIFTY MAY FUTURE, do not mix those for NIFTY Spot. 

Trade safely,
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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