Nifty in consolidation mode. Any time profit booking can intensify.

Nifty tested 12100 yesterday but today due to lack of follow up buying, it facing selling pressure at higher levels and failed to sustain above 12100 level. This is indication of bulls exhaustion. 12000 spot level is crucial support for Bulls to move upwards, In case, nifty breaches 12000 spot level then we may see lower levels of 11950-11900 from current levels. Technical indicators not supporting upward momentum. Hence, Long holders be alert. Book profits wherever possible.
Majority of Sectoral indices in selling mood.
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

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