Nifty 50 - Analysis

Home

NIFTY 16 JUNE 2021 : Its choppy but chart patterns are still intact for uptrend.

 


Good Morning Friends, 

What has happened yesterday in final hour was basically a result of some less participation at higher levels. Still, have a look at above hourly chart of Nifty. We can still have an upward channel and this reflects the main trend. 

I must ass that 15800 level which was an impulsive top few days back is now a support. At least, as long as 15800 holds, this trend is intact even for trading. 

If anyone is in search for pin point top to short can guess any levels but it can never be wise shorting on anticipation. Short signal cannot and can never come at top. This is what's basics of technical suggests. 

As long as 15800 holds, I have a hope for 16000. 

Let us see todays deal, 

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…
NextGen Digital... Welcome to WhatsApp chat
Howdy! How can we help you today?
Type here...