Nifty trading near key support levels 11100-11060. Bounce is likeky.

Nifty fell from 11770 levels and currently trading at important support zone 11100-11060. Here 200 Dma and other important supports exists. In technical indicators, bullish divergence signals formed. Hence, anytime short covering rally can begin. Book profits in short selling positions and go long with 11000 as strict stoploss.
Regards,
Suryadev Bandari
Research Analyst.

Sent from my iPhone

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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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