NIFTY 02 JULY 2021 : Bulls may have hope from support of 15600 levels. Action depends on reaction @ or near 15600.

Good Morning Friends,

This fall towards 15650 was expected but I was expecting some meaningful bounce but we hardly got any bounce. It was a weak closing yesterday.

Question is what to expect from today?

At one go we can sense a support at 15600 and this is the level where bulls may have some hope. Any fall below 15600 may be impulsive and rapid. I cannot say that we have too many technical justification for 15600. It is a recent support from where we got few bounce. I suggest to watch out for reaction at 15600. If strength appear then we can hope for recovery.

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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NIFTY 02 JULY 2021 : Bulls may have hope from support of 15600 levels. Action depends on reaction @ or near 15600.

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NIFTY 02 JULY 2021 : Bulls may have hope from support of 15600 levels. Action depends on reaction @ or near 15600.

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