Who will succeed? Bulls or Bears this weekend.

Nifty facing stiff resistance at 10950-11000 zone. Bulls failed to continue Wednusday's bounce due to lack of buying interest from buyers. Whole day nifty moved in narrow range and formed bearish candle.

Today 10820 level is very crucial to decide trend. Below this level, Bears takes control on market and we can see selling pressure till 10747. Above this Bulls tries to move above 10950 levels.

10747-10950 is range for nifty today.

On weekly scale, high probability for nifty move towards 10747 and even lower, as today last day in Week, Bears tries to close below or near weekly lower level.

Most of stocks witnessing selling pressure on every bounce.

Still market in 'SELL ON RISE' mode.

Utilize every bounce to create short selling trades, keeping stoploss above 11000.

Resistance 10950-11000.

Crucial level to watch 10820.

Support 10747.

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

Search This Blog