Nifty 50 - Analysis

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11 AUGUST 2021 : CAUTION requires and CAUTION demanded.

 


Good Morning Friends, 

As I said yesterday, I am repeating, we need caution from all long position from current levels. Its a history that blue chip index fall after fall in small cap and mid cap indices. 

Yesterday, NIFTY was up but small cap 100 and small cap 50 index was down by 2%. This was second day in row. 

Hence, it is alarming. 

I may plan to add shorts at higher levels with limited quantity and then will go for pyramiding. 

It looks like 16500 will act as zone of resistance. 

Fine, 15960 -15900 will be the crucial support but currently we are trading well above those supports. 

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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