NIFTY 13 OCTOBER 2021 : Nifty likely to challenge for new all time high again. Expect 18100-18050.

Good morning friends,

I am back again. Well, we saw a sharp recovery from 17860 levels and that was great. Now I am expecting a firm opening and that will give us levels like 18100 to 18150.

Big question is will it face resistance at top. My answer is simple that it is unpredictable. It may face resistance and may not face resistance. Chances are 50-50.

I strongly suggest not to short this market unless it gives you some pattern for topping. If top has to comes then it may come at 18150 levels or near by but I may not prefer shorting.

My rule is simple, not to short a market which makes a new all time high.

Better is - trade long. It will give reward.

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 13 OCTOBER 2021 : Nifty likely to challenge for new all time high again. Expect 18100-18050.

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 13 OCTOBER 2021 : Nifty likely to challenge for new all time high again. Expect 18100-18050.

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