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NIFTY 18 MAY 2021 - A breakout above 14850 can give 15100-15200-15350

 


What a great and least expected breakout yesterday. I would like to discuss about two possibilities here.
More likely outcome is 15100-15200, as said yesterday but looks like it will come as gap up. If one has long from levels above 14850, congratulation. Book profit on rise. RSI is supportive for rise. 

Less likely outcome - 15044 is a top to invade and may give challenge. If failing then market can reverse from 15044 or near by point. 

Let us see, what's next.  

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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