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NIFTY 11 JUNE 2021 : Patterns just saved from edge and may challenge 15800 again.

 


Good Morning Friends, 

Looking on to daily Nifty chart, we can say that possible threat of fall has saved. Take a note that it has never closed below 15600 level. Surely, it has broken during the day of fall but saved. On expiry day too it has moved higher. 

If I make a study on last four candle (which are of this week), it is giving edge to bulls. As long as Nifty staying above 15600, there will be denial of fall. More than that as long as it is above 15300, trend is still up. These fall are just small pull back. 

Here is a big question, can Nifty hit 16000? My answer is yes but when and after how much correction. I do not have answer. Market has to answer this question. Do not prefer heavy shorting.  

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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