NIFTY 25 AUGUST 2021 : Nifty to retest all time high. Do not attempt easy shorting.

 


Good Morning Friends, 

Market run with full of surprises in favour of bulls. I am happy to avoid this market. I cannot say it is tug-of-war between bulls and bears. Its easily in favour of bulls and crushed bears. 

Above is hourly chart of Nifty and one can easily observe huge divergence of MACD and RSI. So now, technical may not support this rally too much. 

Price action is strongly and very strongly in support of rally. This is enough to stop shorting. Remember, momentum is hugely in favour of bulls and this type of momentum can give any levels. 

Doesn't matter, I am still in holiday mode. 

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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