Nifty 50 - Analysis

Home

NIFTY 29 JUNE 2021 : Its safer to avoid long near 15900 levels. Wait for strong breakout.

 


Good morning Friends, 
I have already quoted past week also that market is looking sluggish to heavy near 15900 levels. Yesterday was also one such confirmation day. If one is intended to trade long then one must wait for fresh and strong break out above 15900. 
Above is hourly chart. It is a price action chart. It is showing multiple top at 15900 levels. Good part is that it had higher bottom which can confirm that we can expect breakout sooner than expected. This may require quicker action. 
For today's trade I suggest to expect a support at 15800 levels. Looks like if it break 15800 then we can expect a slide. On higher side to trade long I will wait for strong breakout above 15900 levels. May be I will even above 15930 kinds levels. 

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...