Nifty 50 - Analysis

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NIFTY 9 NOVEMBER 2021 : Nifty came up surprisingly. If maintains above 18100 then we can see some more upmove.

 


Good morning friends, 

Definitely I was not expecting this bounce. The moment it crosses 17960-17970, it added great sign of fueling for upside. It looks like after Diwali, money and momentum came back in the market. 

Now 18000 should be a trading support and 17950 should be a trading support. You can have a look on above chart where I have drawn an upward trading channel. 

If this trading move sustain then we can expect a target of 18350 and then on fresh claim we can expect a new all time high. Opps, too early to say. Right now, first we have see how Nifty treat 18150. 

Be careful at 18150 and 18000 levels. These can be dicey levels. 

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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