Nifty 50 - Analysis

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NIFTY 07 SEPTEMBER 2023 : Looking like an explosive upside is coming today. As long as it is above 19600, it may attempt levels like 19700 to 19800.

 Hello, I must say that when Nifty was saving 19250 and unable to close below 19250, that was a sign that the market may refuse to go down. I was not expecting that. Now, it has closed above 19600 with furious strong hourly chandle. Here is the chart - 


On the other hand, Band Bollinger is about to expand now. This may be the first hint that Nifty may challenge ATH sooner. 

Band Bollinger and MACD are giving buy how can I think to short now. Unexpected in nothing in the market but as of now things are looking rosy for bulls before expiry. The only thing is that if a gap up comes then it can test the patience for not to trade. Make a perfect entry on the long side. Bears should ignore the day. 
Have a nice and profitable trading day,
Praveen Kumar


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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