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NIFTY 05 JULY 2021 : Nifty has saved strong support of 15600 and we can now expect 15800-15850 levels.


  Good Morning friends, 

After a continuous flat to weak trade last week, Nifty has finally saved important support of 15600. Above is hourly chart which is justifying this pullback. This pullback should at least continue to hit 15800 to 15850 levels. 

I must add that we should still be cautious at higher levels near by 15900 levels. Expect the respect of 15600 as of now. I have a disclosure that I have added long in the last session on index future. Still, I have conviction for more rise. I will not be greedy to trade long near 15900. That's crucial 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…
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