NIFTY 13 SEPTEMBER 2023 : Life at 20000 Nifty is still showing some life. As long as it holds 19910 levels, we cannot expect any remarkable profit taking.

Hello traders,

I found the above 15-minute chart more interesting as patterns are clear in it. It defines the importance of 19010 support levels. I firmly believe that it is not going to be bearish from the top so easily.

Equally, the chances of profit taking is still there. On the higher side, we can have two important resistances, one is at 20040 and then at 20110. Support, if it breaks 19910 then we expect 19800 levels in a very short time.

Take note that whenever support breaks then prefer to short on bull back. It is very likely to see odd moves in the market now.

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…

Nifty 50 - Analysis

NIFTY 13 SEPTEMBER 2023 : Life at 20000 Nifty is still showing some life. As long as it holds 19910 levels, we cannot expect any remarkable profit taking.

NIFTY 18 OCTOBER 2023 : Look like downside is limited but still expect choppy moves before it shoot up higher. Decisive 19850 and 19930.

30 July 2018: Nifty Elliott wave analysis: As expected it hits a new life time and expected to hit 11450 levels.

NIFTY & BANK NIFTY 14 APRIL 2022 : Watch out for 17400 levels very carefully, If breaks it can come to the levels of 17200.

20 June 2018: Nifty Elliott wave analysis: Relative strength is due to Reverse H&S pattern. Hope DJIA does not crack further.

BANKNIFTY FUTURE CHART ANALYSIS

NIFTY 13 SEPTEMBER 2023 : Life at 20000 Nifty is still showing some life. As long as it holds 19910 levels, we cannot expect any remarkable profit taking.

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