Nifty 50 - Analysis

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NIFTY 25 OCTOBER 2021 : 18050 TO 17950 can act as good support in down side.

 


Good morning friends, 

Above is the hourly chart of Nifty. We can clearly see the levels of 18050 to 17950 as good trading support. If market rebounded from current zone then we can expect rebound to sustain. 
Above is the most likely scenario. 

Let us see the alter sense also. If Nifty breaks 17950 by any chance then Nifty will be in worse shape of recent time. It can go to drag towards levels of 17600-17500 levels. Who knows what can change if that happens. 

[Note - I am also studying monthly chart which is suggesting me that this super rally will end either by this year end or max by early next year. Anyhow it looks as bearish 2022. Hence avoid fresh investment].

Happy Trdaing 


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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