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NIFTY 17 APRIL -INTRADAY - 23500 is demanding figure on Nifty now. What if it can sustain above this levels?

 


Hello everyone, 

The current value of the Nifty is 23400. I've been quite effective in saving support for 23260 and 23190. The ratio of advance decline is 1455-1063. It is demonstrating its strength quite obviously. A 15-minute chart that displays a greater variety of deals is shown above.

I have been stating for the previous few days that I am anticipating a test approaching 23500. Note that if it can maintain above 23500, then I have every reason to think that it will move towards 23800 to 24000 levels.

However, everything hinges on the eagerly anticipated test and crossover. After the extreme panic last week, it is encouraging to see the respect that supports are receiving. 


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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