Nifty 50 - Analysis

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NIFTY WEEKLY CHART ANALYSIS – 25 AUGUST 2014 TO 28 AUGUST 2014

Trend established on weekly chart is still intact and upward with previous weekly closing at top most point. It is showing for more steam left in Nifty for upside. One need to note that weekly strong support is at 7650-7600 based on trend line.  This is 5th wave on Elliott chart. Diamond formation is now turning to ‘rising wedge formation’. It is meaningful with support at 7850. 101% - be caution at higher levels if it emerges near 8000 psychological mark. Although, Elliott wave resistance will be at 8132 only if it manages to stay above 7940.



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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