Nifty 50 - Analysis

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NIFTY 20 OCTOBER 2021 : Nifty is likely to correct up to 18250-18150 levels.

 


Good morning friends, 

Shorting is a sin this market. Still above chart is suggesting me for the price correction up to 18250 to 18150 levels. This correction is going to be the result of many big gap up opening. This can just be the usual pull back in the price. 

It is just not going to hurt anything for up trend. Nevertheless, just one day of 50 points fall cannot be named as any sign of weakness. 

Warning situation is that price is moving too higher than any moving average. Price will try to come near to moving average. 

Is there any scope of trading long?

This market is all about trading long with proper risk rewards. Wait for strength signal which will come soon then add long. 

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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