Nifty 50 - Analysis

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NIFTY 18 OCTOBER 2021 : Too many gap up to trade. Likely to face resistance at 18500 and 18700 levels


 Good morning friends, 

We saw two big gap up and then a up market. SGX Nifty is giving a hint to another 80 points higher opening. That's make me uncomfortable to trade. I cannot afford to short this market as it is making new high. 

A bind long and hold is the only strategy that work in this kind of market. 

From option data it seems that market will face resistance at 18500 or 18700 levels which is most likely levels to be testes. I am not denying further rise. 

Shorting is a crime in this market. 

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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