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Bulls or Bears who's going to take control over Market today?

Nifty formed negative Divergence in daily charts and Double top formation in Price Charts.
At 11694-11714 range, Double Top Formation preventing Bulls to Cross this resistance.
Moorat trading also indicated that Bears likely to take control over market from nowonwards.
First confirmation would be trade and close below 11555 spot level.
Next crucial support for Bulls is at 11491-11448.
Today's price action is crucial for next directional move.
Suryadev Bandari
Research Analyst

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Exhaustion gap formed. Bulls strength eroded???.

Nifty bounced back strongly on back of Major news announcement of Cut in Corporate Tax on Friday. Today nifty retraced 61.8% of entire fall. As of Now, wave 2 in finishing stages.  More possibility for Wave 3 down to begin any time soon. Hence, Be cautious. Its time to reduce long positions. Profit booking time. From current levels, nifty likely to retest 11000 levels anytime. Short term top made. New highs may not be possible from here. Keep booking profits in long positions. Wave 3 Impulsive Down move can begin any time. Regards, Suryadev Bandari Research Analyst

Nifty broken down from Ending diagonal pattern. Major trend reversal below 11850 spot.