Nifty 50 - Analysis

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NIFTY 06 JULY 2021 : After a bounce, it is on decisive resistance zone of 15850 to 15900 levels.

 


Good Morning Friends, 

I am keeping analysis simple for the day. Nifty is again going to face resistance at 15850 to 15900 level. We are witnessing in great dip in price volatility. Charts are showing the contraction in price range. Usually this kind of price contraction is meaningful after a breakout. 

This gave me a sense to watch out for the day. If Nifty gives any sign of weakness then we should prefer trading short. If there is a sign of breakout above 15900 then we will play for long. Well, for trading long, clear cut condition is that Nifty has to trade above 15900 confidently. 

Be ready to trade in any direction. 

Happy Trading

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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