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NIFTY 10 JUNE 2021 : Yesterday's pin point fall bottom of 15566 will at as support before 15300.

 


Good Morning Friends, 

I must say that I was expecting yesterday's fall. Best point is that it came from exactly the desired resistance of 15800 levels. Take a note that if market participant's volume is low then any moves used to be quick and over reacting just like yesterday. It does not mean that market is under panic. Due to new margin rule market gave us quick moves. Today is weekly expiry and such moves may hit the market again. 

One can observe few point on above daily chart. I consider yesterday's bottom as crucial support which is at 15566. If it breaks then we can expect some support at 15400 levels and finally at 15300 levels. On higher side 15800 is the resistance. 

I must warn about some unprecedented volatility in the market.  
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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