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NIFTY 14 JUNE 2021 : Running in consolidating range of 15600 to 15800+ with some possible outcome as short term rise.

 


Good Morning Friends, 
With above title, I do not mean that market will rise by today itself. As it has closed above 15800 and so that's base to assume that we can visit 16000 marks sooner. This consolidation has one dip also which is good to take out weak hand. 
I must say that we are far away from the levels of 15300 which remains base line support of this rise. If unexpected does not happen then 16000 is some thing that we can assume by this week only. Condition is that it must save the support of 15650 to 15600 levels. 
Well, Can I say same for BANKNIFTY, may be note. it looks like participation will come from old economy stocks like metals and pharma. 
Happy Trading, 
Praveen Kumar

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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