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NIFTY 12 SEPTEMBER 2023 : Finally Nifty is on the psychological level of 20000. Least chance of any remarkable price correction. It can extend more.

 


Hello, first of congratulations of 20000 on Nifty. 

What is coming next is the big question. In my view, 20000 is an important technical landmark on the chart. So far, things are good, and looking for further extension of this rally. Pure technicals are giving the target of 22000 for Nifty in the medium term, may be in 4 to 6 months. 

Immediately I am not expecting any good chance of price correction. There can be time correction Intraday support will be at 19930 levels and on the higher side 20100 to 20150 can be the possibility that we can think about. 

Correction can hit only if it stand below 20000 marks and breaks 19930 levels. 

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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