Nifty 50 - Analysis

Home

NIFTY WEEKLY VIEW 17 - 21 MAY 2021

 


Hellow friends, 

Have a look on above hourly chart of Nifty spot. We can able to see the lower top and lower bottom formation. Nifty is again showing some resistance at the upper end of channel. Worse part is not in the part, it is bank nifty chart which has closed almost on days low on Friday. 

I presented two option for bearish move. Anyhow it is showing to hit 13900-14000 levels, giving opportunity for short trade. If it goes higher today then i will prefer to grasp short trade. 

MY STOP LOSS may be near 14850 levels. Well, I am more keen for shorting bank Nifty. What's above 14850, we can say it would be breaking higher end of channel and that will be named as breakout. In that case a bullish move could be expected for price target 15000-15200. 

Thanks and 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...