NIFTY 15 SEPTEMBER 2021 : Outcome of consolidation is required to know to trade next move. Resistance - 17430-17440

Good morning Friends,

Yesterday it opened higher and then gave up from higher levels. Well, that is not important. What is happening now is more important. US market slipped over 300 points but SGX Nifty has denied everything and looking for some higher opening.

That's jittery.

Above is hourly chart. It is showing the formation of double top and double bottom so far. The range between 17440 to 17260 may remain indecisive to trade.

What's technical charts are saying for the day?

It was looking for down till yesterday's close. We should have seen levels of 17330-17300 at least but I am not able to figure out after gap up. It should not go beyond 17430 levels.

My view remains same. Resistance @ 17430-17440 and then a slip from high.

If able condition does not full fill then I will not trade.

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…

Nifty 50 - Analysis

NIFTY 15 SEPTEMBER 2021 : Outcome of consolidation is required to know to trade next move. Resistance - 17430-17440

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NIFTY 15 SEPTEMBER 2021 : Outcome of consolidation is required to know to trade next move. Resistance - 17430-17440

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