Nifty range shifted down. Bulls and Bears fighting for 11550 level.

Nifty breached 11680 supporting trendline and trading below it. Now Bulls crucial support is at 11550 spot level. Bulls failed to hold opening higher levels and fall back below 11600 level. Now 11550 spot level plays trend deciding level for next direction. Once this support breaks down, today or tomorrow, bears likely to steer the market.
Regards,
Suryadev Bandari
Research Analyst

Comments

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.

Earning Wave

Search This Blog