Nifty 50 - Analysis

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NIFTY 26 MAY 2021 : Tussle to continue between bulls and bear near all time high

 


I can tell you that most momentum indicators would be running with divergence in shorter time frame and this can be impact of some gap trade. This is the characteristic of trade near all time high. two factors govern the trade - one is momentum (on hope of stimulus package) and divergence (may be due to unwillingness of participation of fresh bulls). 

Technical factors - Watch the formation of rising wedge on daily chart. This is concerning for bulls. No one can guarantee but it looks like that if it Nifty slips below 15100 by any chance and starts settling below 15100 then it may not be safe anymore. In alter sense 15100 is a decisive support and must be respected. 

One higher side, break above the given trend line can make us safer but that levels looks above 15325. 

I hope above study will help you to take trading decision. 

Happy Trading ☺

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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