Nifty 50 - Analysis

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NIFTY 12 JULY 2021: Meaningful support is still at 15600 with upper side resistance at 15800-15900.

 


Good Morning Friends, 

Today is first trading session of the week. We saw some revival on Friday from lower levels but this recovery is not as strong as past few recoveries from same levels. We can able to see multiple swings on chart in 15600 to 15900 zone. 

What I expect for today is a firm opening with support at 15600. My first watch point is 15750 levels. I will not prefer to trade long on Index from higher levels for today. We already saw too many swings in this zone ad now traders may be tired of this levels. This can result breakout of the zone. 

I am lot intended for breakout trade 

Let us see when it comes.

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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