NIFTY 27 MAY 2021 : Monthly derivative expiry can duel up for 150-200 moves on either side.

 


My focus remains on rising wedge pattern that has develop on Nifty daily chart. I marks those on above chart, equally same is visible on Stochastic. I have few important levels for the day. These are as follow - 
Resistance - 15325-15335 < above those it can challenge 15430
Support - 15200-15190 > below which it can test 15100

Option OI data is suggesting for a move in the range of 15200 to 15300 levels. 

Now let us talk about market psychology. This up move came on the hope of stimulus package by government. Obviously its due to COVID second wave. Today, we have derivative expiry and market is equally in the striking distance to challenge the new all time high. I mean, Nifty all time high is even less that a percent away. 

I must say that unless Nifty start closing below 15100 there is no point to say that trend reversing. Intraday fall or choppiness are jut fluctuation. 

Use given levels to trade. 
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…
NextGen Digital... Welcome to WhatsApp chat
Howdy! How can we help you today?
Type here...