Nifty 50 - Analysis

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NIFTY 28 OCTOBER 2021 : Likely support will emerge at 18100. It can turn weak from higher levels.

 


Good morning friends, 

It took expected dip from levels near to 18320. In fact it was showing discomfort from 18320+ levels. Eventually it took a dip. It go to hit 18170 kind of levels and that's surprising. It is showing that market may not hold good above 18320 + levels. 

What's coming next?

It is very likely that Nifty may fail at top. The way I am seeing the chart, I am not expecting Nifty to go above 18260 for today. 

In the lower side it can come around 18100 levels sooner or later. 

We have Monthly derivative expiry today so be alert from false signals. 

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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