Nifty near top. Possible trend reversal ahead. Stay alert.!!!

Nifty made top on Election Results day. i.e, 23rd May, 2019.
On The Elliott Wave Principle perspective, bounce from 10000 level 12041 consists 5 inner waves. That is 5 th wave of major wave 3. In that case, we likeky to see wave 4 down shall begin any time from here. Upside capped between 12100-12200 few points fluctuation likely due to volatility.
First sign of weakness comes once nifty breaks and trade below 11860 spot levels.
Regards,
Suryadev Bandari
Research Analyst

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LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

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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