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.
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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