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NIFTY 31 AUGUST 2021 : Strong support @ 16700 now. Market to go on breather mode.


 Good Morning Friends, 

What a and really what a rise. Unbelievable. I am sure you would not have burnt your money by shorting. Fine, that was my aim. 

It was a tempting levels for bears. Well, what's next?

Fine, historically, whenever market used to get this kind of sharp rise through out the month then it used to correct on very next Tuesday after expiry. Today is that Tuesday. 

Hence, I have point to consider as day of correction. 

I definitely do not mean by anything close to say as trend reversal. It will be too early to say. I want to watch the day. Charts has a strong message for us that 16700 is a very very strong support. 

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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