Nifty 50 - Analysis

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NIFTY 12 NOVEMBER 2021 : Once again, bounce from 17800, now eyeing for 18000 to 18100 marks.


 Good morning friends, 

Above is the hourly chart of nifty. We can able to observe the support coming at 17800 levels. This support can lead Nifty to some recovery after sharp fall. If Nifty shape up well this morning with good opening then this market can go test 18100 levels too. 

Well, it may be too early to talk about 18100 but immediate target can be 17960 levels. A level which work many time in recent days. 

Suppose if it makes much of trade above 17960 then it will great sign of strength. 

Now, support if it doesn't. Well, in that alter view will in force. It means Nifty can have a chance to go back to 17800. 

Keep above levels and views in mind. 

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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