NIFTY 07 JULY 2021 : It faced resistance on expected 15900 levels. Be cautious at higher levels.

Good Morning Friends,

What has happen yesterday was not totally unexpected. Nifty was not comfortable above 15900 and hence slipped. It was not just a slip, somewhat it was panic sell off lead by Tata Motors. (TATA MOTORS - If one has investment buy or medium term view then also make exit on any rise. From current levels of 320, I do not see value after what they announced yesterday).

Let us talk about Nifty. Closing is above 15800, so I cannot say that its a big dent but it may be beginning of dent. Take a basic logic - A fall is concerning only and only if it get follow up. Hence, Today is the day to watch. If it close with fall today then we can see concern.

So, make or break day. Either it will take fresh attempt for 15900 or may go to test 15600 again. There are so many swings.

I am not interested for long trade for the day. Be cautious at higher levels.

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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NIFTY 07 JULY 2021 : It faced resistance on expected 15900 levels. Be cautious at higher levels.

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