Be cautious ahead of BUDGET. THIS IS SUPPLY ZONE.

Market cautious at current levels as tomorrow major event of UNION BUDGET.
Usually India VIX surges higher before Budget but this time IndiaVIX subdued because of no major expectation on this Budget. Stay cautious. Avoid taking more risk. Avoid taking positions until Budget event.
Technically this is huge supply zone, means Bears are active at current zone. Any time market can take U turn. Series of Negative Divergences in technical charts indicating that this bounce is not sustainable for longer time. This is counter trend move and temporary.
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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