Nifty 50 - Analysis

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NIFTY 04 AUGUST 2021 : Finally after two months NIFTY broke the range on higher side. Expect 16300-16500 now.

 


Good Morning friends, 

Finally, waiting end yesterday and Nifty broke on higher side. It has traded above 15960 and then bounced almost by 150+ points in a single day. 

What is the target now next?

Technically we can think of targets like 16300 to 16500 levels. As it's a new all time high so there is no resistance on higher side. 

If market falls from higher levels then it will be contra call. 

Take a caution, do not prefer to trade on short side on any small pull back on anticipation of fall. Market may not fall easily. 

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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