Nifty 50 - Analysis

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NIFTY 25 SEPTEMBER 2023: If goes below 19650 then it will prepare for 19500. If sustain for bounce then you can expect 19800.

 


Hello, Nifty is almost in a break situation. I have shown two possibilities in the above chart. First is, if a bounce comes then it can take the Nifty to 19800 levels with strong support at 19600. It is based on fibonacci retrechment. Hope it comes true. 

Alter way, purely based on the candle pattern, If it starts trading below 19650 and sustains then Nifty can go to hit 19500 levels. Intensity can be sharp and this can be achieved by today itself. 

Stock to watch - LT and TCS for long deal. 

Happy trading, 

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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