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NIFTY 09 JUNE 2021 : Looks like 15800 will be decisive resistance. Trade light.

 


Good Morning Friends, 

Once again I avoid giving daily chart and it remains choppy at top. Above is hourly chart and have a look on the trend line drawn. Nifty moved on that trend line itself. Now, its a 50-50 deal. Bulls will save trend line is saving and bears will it can break. 

What even be, but it is still having respect. One thing is clear that 15800 is still proving as tough resistance. We have meaningful support at 15600, little far by 150 points. If you can trade conformably in this zone then one can trade. opt a strategy of buy low and sell high. 

I also opted s strategy of shorting high due to better risk reward. Well, still you cannot be too greedy as market is not weak yet. It can be ... it may be a pause before next rise. I still use can be may be. Hope for the best today. 

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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