Nifty 50 - Analysis

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NIFTY 26 JULY 2021 : Again trade near 15900 would not be good to stay long. It may fall again.

 


Good Morning Friends, 

In the last trading session when Nifty came at 15883, I punched order to book all my long position and added few puts. I posted hourly chart above. You can see how many times it has slipped from 15900 or nearer levels. 

My point is clear - If I have to buy from near to 15900 then I will prefer to buy a breakout close. Else I will remains blank. 

If price follow history then it can again slip towards 15600 levels. As of now, it looks like we are in a range. Best part is that even after it stuck in a range it gives trade. Well, but you have to be on right side. 

Let us see how it react today. 

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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