NIFTY 30 NOVEMBER 2021 : Nifty can revisit 16800 levels. No rise can sustain unless it goes above 17200 levels.

Good morning friends,

Well, it has closed below 100 DMA and it has faced resistance at 100 DMA. This market is definitely turning weaker on chart as the days progresses.

It is looking for retest of 16800 levels again. I have drawn some Fibonacci retracement and it is looking to take support in the range of 16800 to 16600 levels and that's too wide.

If it breaks 16600 then we can visit the levels of 16200 to 16000 levels. While on higher side it may not be safe as long as it is staying below 17200 levels.

Flat start may again invite selling but I will not be easily tradable. We already saw too many swings in the last session.

At these levels I advised caution even from long term picking.

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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NIFTY 30 NOVEMBER 2021 : Nifty can revisit 16800 levels. No rise can sustain unless it goes above 17200 levels.

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NIFTY 30 NOVEMBER 2021 : Nifty can revisit 16800 levels. No rise can sustain unless it goes above 17200 levels.

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