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NIFTY 19 JULY 2021 : SGX NIFTY down 200 points. CORONA VIRUS and INFLATION fir se jag gaya.


 

Good Morning Friends, 

Have a look on above chart, it is on hourly time frame. Market has convincing above 15900 but it was never be comfortable above 15940 levels. This gave a sense of caution, some was not convincing on Friday and here comes reason. 

Reason may just be add. I learn from some News paper that Asian market is lower on Virus and Inflation concern. This is how technical works. It gave you no comfort first and then news hit. 

Gap down is very likely. Support is it does not fill the gap then it will be named as "truncation".

It is will be willing to fill the gap then its opportunity. I will look for opportunity after gap down. May be near 15600 again..... not too sure but some formation may comes. If there will be no signal to buy from low then I will make a holiday. 

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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