Nifty 29 April 2025 : No easy fall but RSI divergence will come in to action if it goes below 24100.

 


Hello  everyone, 
Though a few important technical indicators are showing warning indications, everything appears to be ideal for bulls. RSI divergence is visible. Every time it shows signs of weakness, this divergence will be activated.
Additionally, the Nifty has not yet overcome the 24365 resistance levels. We can see fall if we notice any sort of gap in the ground. As long as the Nifty stays above 23800 levels, I continue to believe that buyers would be there every decline. Although it may seem like I'm talking about a wide spectrum, that's just the nature of the market.

This suggests that upcoming two trading session will be big.
On higher side onceNifty goes above 24400 then we may see a move towards 24800-24900 levels. This may not be as easy as i am writing.  Key points are
  • Nifty has yet to cross 24365 - 24400 levels.
  • RSI divergence.
  • Two supports, one at 24100 and then at 24000
  • Trend changing support 23800.
Uncertain geopolitical event will add lots of spices in trading.  Looking in to the momentum,  it is not easy to short this market. Unless we see such signs, one must avoid shorting. 
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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