NIFTY 30 JULY 2021 : Patterns are still giving no conviction for cross of 15900. Eventually it can fall again towards 15600.

Good Morning friends,

I hope you got my point in yesterday's trade. A bounce and short. It looks like market will open gap down. Will this see any recovery today? Nothing is impossible but chances are little less. Even if recovery comes it may get sold on top.

I still suggest we are not too far from all time high and hence I am not referring this market as weak in any time frame. This can just be a pull back and trading opportunity. Hence keep your risk management strict.

Now, once you decide your stop loss then you can expect a move towards 15600 again. If it starts closing below 15300 then one can name this market as weak and we are too far from those levels.

I am already trading with low to moderate volume on short side.

Once there is gap down, there is no point to short low due to unfavorable risk to reward ratio.

Happy Tradaing,

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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NIFTY 30 JULY 2021 : Patterns are still giving no conviction for cross of 15900. Eventually it can fall again towards 15600.

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