NIFTY 28 JULY 2021 : Nifty slipped as expected and hit a low at 15701. It can slip again after bounce?

Good Morning Friends,

I have already updated too many times that Nifty remains heavy at 15900 levels. It shown weakness at top again and then eventually slipped. Yesterday it hit a low at 15701. Can we expect a bounce

Yes, as it is shown by SGX Nifty but picture may not change. I am expecting a fall after bounce and that bounce may remains an initial bounce.

Take a note that we may see opening quote near at15800 and that level may remain a zone of resistance. Still, I feel that one should prefer to take caution at initial hours of trades.

If market generate pattern of weakness above 15800 and below 15850 then I will prefer to add short again.

Do not expect market to go beyond 15600 to 15950 quickly. Don't matter we spend two months in this zone. So far we have no great signal of breakout.

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…

Nifty 50 - Analysis

NIFTY 28 JULY 2021 : Nifty slipped as expected and hit a low at 15701. It can slip again after bounce?

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NIFTY 28 JULY 2021 : Nifty slipped as expected and hit a low at 15701. It can slip again after bounce?

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