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NIFTY 06 SEPTEMBER 2021 : Nifty may be near short term top. It may be here and there. Confirmation awaited.

 


Good Morning Friends, 

Nifty zoomed above 17300 +. It is easy to say that market is in full momentum but technical indicators are running with huge divergence. I plotted 20 DMA in above daily chart. You can observe that it is running with wild gap. Normally, price follow moving average sooner or later. 

Question is, is this market running normal? It is running with too sharp rise. Perhaps something which no one has ever saw. 

I am still not short but it seems top may come by this week itself. It is not wise to buy anything at this kind of valuation. 

For trading, there is still no point to short. If you buy then also you may be in fear. 

I am just extending my holiday. After initial rise, market may give up its gain today. 

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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