Nifty 50 - Analysis

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NIFTY 14 OCTOBER 2021 : Another new all time high day. Is it looking for 18500???

 


Good morning friends, 

Above is the daily chart. It is clearly showing a resistance free zone and hence I am not in favour of shorting this market. 

Where is support?

18100 levels is looking to act as support based on intraday movement. It is looking to hit 18300 first and then it may hit 18500 levels. 

I am advising caution at higher levels. Personally, I am not in favour to trade aggressive long. In case of higher opening, I will prefer to sit silent. 

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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