Nifty 50 - Analysis

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NIFTY 02 NOVEMBER 2021 : Nifty has test point for bulls at 17960 and 18000 and 18050. Caution advised at these levels.

 


Good morning friends, 

Nifty took a swing from lower levels as expected and closing was also impressive. The next important level is 17960 < 18000 < 18050. 

Fine, yesterday was an easy day for bulls and today we may have different day. I may not be as aggressive as yesterday. In fact today may be a day of caution. 

I am still advising long trade only but be cautious when ever Nifty comes at 17960 or 18000 or 18050. 

If Nifty to reverse for long term or medium term then it may fail at any of the above levels. I can say today be the test day for bulls. 

Take a note longer it sustain below 18000, higher is the chance of trend reversal. 

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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