Skip to main content

Irregular triangle at the end of last leg. Any time Impulsive down move begins. Beware.


Possible Irregular triangle in finishing stage. Once this triangle completes, then we will see swift impulsive down move in market. Upside capped at 11141-11045 range.
Crucial support to watch today is 11000 spot, once this level breaches, then we will get indication of possible trend reversal.
Keep strict stoploss to long positions as we expecting swift trend reversal anywhere between 11045-11141 zone.
Resistance 11045-11141
Support 11000, 10960.
Regards,
Suryadev Bandari
Research Analyst

Comments

Popular posts from this blog

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