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NIFTY 08 NOVEMBER 2021 : Nifty is looking for form a H&S pattern. Longer it stay below 18000, higher will be chance for 17500 kinda levels.

 


Good morning friends, 

I said this earlier too and repeating it now also. Longer Nifty stay below 18000 levels, higher will be chance for 17600-17500 levels. 

Does this result the change in trend. 50 Days Moving average is nearing at 17700 levels. Pattern wise is is looking for short term trend reversal. I am not saying that long term is going to chance in anyhow. We are far too higher than those levels. 

For todays trading, Nifty will face 17960 < 18000 < 18050 levels. I am finding it easier for slip towards 17800- 17700 levels. 

Take a note what has happened on Wednesday. It slipped two hundred points then bounced 100+ points and then slipped again by 150 points. This is not easily manageable.  

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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