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NIFTY 05 AUGUST 2021 : Resilient NIFTY can still have enough fuel. Looks like every pull back will be bought.

 


Good Morning Friends, 

What a week going on for Nifty. went up and sustained at up. This is a sign of strength. Do not think of price correction. It is looking like that every pullback will be bought. Bulls are ready. 

I must add, just like what 15600 has does in past month, will be done by 15900 levels now. As long as it is above 15900, do not think to short this market. 

In fact, after this breakout prefer to trade long on every pullback. 

The target which is in mind is something near to 16300 and then at 16500. These can be speculative target based on option build up. 

Exhaustions will come at some levels but that level may not be this one. 

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…
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