Decisive move needed to move forward.

Indecisiveness in Weekly charts.

Last week, nifty ended with indecisive Doji pattern in Weekly charts.

In Daily charts, nifty traded below key resistance zone 10950-10965-11025.

As long as nifty trades below this resistance zone, sell on Rally mode continues.

This week's crucial Resistance at 11025-11141.

This week's Crucial Supports at 10746-10756.

Nifty likely to trade in this range.

The stocks which were helped in Friday's Bounce, went into over bought zone and sell mode in shorter time frame charts, means, they may not move up today and likely to face profit booking.

Lack of Buying can not push index to breakout resistance.

We need to watch First hour of trade today opening.

10900 is crucial intraday support, incase nifty trades below this level, bears takes control and selloff emerges again.

Bears tries to protect 11000-11025 resistance zone.

Stock specific momentum can be seen today.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com

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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