Technical Indicators Back to Sell mode.

Nifty formed Bearish Engulfing pattern in daily charts and today in bearish continuation pattern.
Banknifty yesterday formed Doji near 200dma and today it formed Evening star formation.
Both indicating that short term bounce has ended yesterday and down move to continue from hereon.
10900 in nifty crucial for bulls.
Keep strict stoploss to long positions.
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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