Nifty 50 - Analysis

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NIFTY:03 May'12:Intraday updates - watchout @ 5189


As of now gap has not yet filled up and not likely to fill up. So this is generating a resistance @ 5225 for intraday move on 30 min and 60 min charts. 


 38.20% from 5189 (of move from 5279 to 5189) = 5225
As long as we are staying below 5225, this market is for sell on rise for intraday. Break below 5189 will be decisive. 


I am expecting those break below 5189. If it happens then we can expect levels like 5170 then 5155. A billion $ question is that if it is coming today. 


Let us see.


Have a nice 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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