NIFTY 01 OCTOBER 2021 : Nifty likely to open lower and on support at 17440-17400 levels. No trade.

Good morning friends,

I always advise traders not to trade on temptation. Most temptation comes with euphoric market. Previously it was euphoric rise and now it seems we are going to witness euphoric fall.

Yesterday it broke 17600 marks in closing minutes but now what I am witnessing on SGX is really scary. It is looking to open with 150 points downside opening.

Gaps are not in the hand of traders. What is to be done after such gap down opening. My view remains same.

Do not be tempted and do not be aggressive. It may not be easy anyway, the same way it was not easily tradable rise.

Technical support is at 17440-17400 zone. If it recovers then its fine else it may get a door for 17200 levels.

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 01 OCTOBER 2021 : Nifty likely to open lower and on support at 17440-17400 levels. No trade.

NIFTY 18 OCTOBER 2023 : Look like downside is limited but still expect choppy moves before it shoot up higher. Decisive 19850 and 19930.

30 July 2018: Nifty Elliott wave analysis: As expected it hits a new life time and expected to hit 11450 levels.

NIFTY & BANK NIFTY 14 APRIL 2022 : Watch out for 17400 levels very carefully, If breaks it can come to the levels of 17200.

20 June 2018: Nifty Elliott wave analysis: Relative strength is due to Reverse H&S pattern. Hope DJIA does not crack further.

BANKNIFTY FUTURE CHART ANALYSIS

NIFTY 01 OCTOBER 2021 : Nifty likely to open lower and on support at 17440-17400 levels. No trade.

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