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NIFTY 30 JUNE 2021 : Beyond stock specific action, market need fresh thrust for rise.


Good Morning Friends, 
As I am quoting from past few days that market is not likely to cross above 15900 in easy way. We are in need of fresh thrust. Technical set up is not yet governing for rise above 15900. It is better to wait for cross above 15900 rather than speculating. 
In alter sense, this kind of pattern is more supportive for bears. Shall we bet for fall? Even that situation is not more convincing. Nifty has generated more supports in short term and those has proven meaningful in price action. Such as 15670 > 15600 > 15500 > 15450. 
Pattern wise, I advise caution from long position but that must have view for intraday. As long as Nifty is sustaining below 15800, we cannot advocate for rise. It is in favour of bears. 
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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