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NIFTY 15 JULY 2021 : Can we expect an upside breakout? Expect decisive move today.

 


Good Morning Friends, 

If I say yesterday was a good and unexpected strength then I may not be too wrong. Still, Nifty is in the zone of resistance of 15850 to 15900 levels. I am taking approximate safe levels above which we must be strongly bullish and it is 15940. 

On upside breakout it can give as big as 16400-16500 levels. What if it fails again?

Well, in that case Nifty will again move around 15600 levels for support. It is a 50-50 take so it is always better to get some good confirmatory signal to trade. 

Volatility contraction is in favour of bulls. On other hand, many momentum indicators are running with divergence. 

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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