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NIFTY 26 OCTOBER 2021 : Rebound from support can take Nifty towards 18200 to 18250 levels, higher levels may not sustain either.

 


Good morning friends, 

I have quoted for support at 18050 to 17950 yesterday. Nifty took a dip in to that levels but due to strong support, it has rebounded too. It was a too big day yesterday. 

Now let us talk about rebound and the possibilities for the day. 

It is very logical to talk about the top to be somewhere near or above yesterday's high. It can be at or above 18200. 18200 may be a make or break levels. If it fail to attract buyer then it will again see a fall. 

If it get buyer above resistance then 18250 and 18300 may also be the possibility. 

Now buyer are not that much strong as it used to be early days. So be cautious at resistance and higher levels. 

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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