Nifty 50 - Analysis

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NIFTY weekly analysis for 24 November’14 to 28 November’14


Elliott wave theory: I have already said that any top will get confirmation only on close below 8290. It saved threshold and hence advance more. One needs to focus on Fibonacci series and sequence. I have few key levels on higher side based on weekly chart. One such key level is 8600. Sound so crazy !!!
Market cycle: Global market has refused all possibility of correction even after sluggish momentum. Indices like DAX has also moved in some unexpected way. Has BoJ really changed the picture?
Technical indicators: Now, it is the time to count for weekly divergence again. A top is sooner as RSI has not moved with any greater strength.  

Charting pattern: I moved out form short on time before it can hit badly. Higher high pattern continues. Three key lows were 8290, 8304 and then 8349. So, it may advance more. 
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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