Bulls guarded 11100 support and regained 11200 level. Bounce to continue further.

As projected, bulls succeeded in holding crucial support 11100 level and staged come back in 2nd half of the day.
Banknifty too bounced sharply in last hour. This bounce to continue further today. Next upside targets would be 11280 then 11360.
Keep strict stoploss below 11100.
Regards,
Suryadev Bandari
Research Analyst

Sent from my iPhone

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Market likely to take a PAUSE.

After our update, Nifty rallied from 19225 to 20095, it appears that, nifty likely to take a pause before another rally. Technically , Negative Divergence formed in Hourly charts. Five inner waves appears to be completed as per Elliottwave Perspective. Several other parameters indicating that markets likely to cooloff from over bought position. It's time to be cautious on taking fresh long positions. As far as possible, keep booking profits, at least , partial profit booking and keep strict stoploss to remaining long positions. Key supports to watch 20000-19870-19700. Resistance 20100-20200. Regards, Suryadev Bandari Research Analyst

Banknifty trend Up.

Banknifty almost completed Sideways correction today around 44550 and turned up. Now it appears to be resume upward Journey tpwards 45700+. Regards, Suryadev Bandari Research Analyst.

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