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Market at crucial Juncture. 11945-11981 is Trend Deciding level.


Nifty updated Wave Count indicating that nifty is at important juncture.
At present, nifty in process of completing larger degree wave 3.
11945-11981 crucial resistance level to watch this week.
There is two possible scenarios here.
    i) 11945-11981 acts as stiff resistance and prices moves down to break 11700, which is very crucial supporting trendline for Bulls, below which Bears get strength.
    ii) if bulls got enough steam, prices moves above 11945-11981 resistance zone, above which next upside target level is 12300.

On Technical indicators point of View, Monthly charts in Negative Divergence and in Sell Mode, Weekly charts too in negative divergence and at crucial trend deciding zone.
Daily and Hourly time frame indicating overbought zone.
Hence, Watch 11945-11981 resistance levels On Monday and trade accordingly.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

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Up move to continue. New Highs to form again.

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Today, Nifty again likely to record new highs and this up move to continue more towards 12360-12375 levels.
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Banknifty did not made new high on Friday, so most probably , banknifty to test previous highs today and may record new high.
Avoid short selling. This is buy on dips market.
Nifty Resistance 12360-12375-12400.
Support 12210-12170.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

Nifty@ New High. More to come.

As expected in last update, Nifty took support around 11900 and rebounded yesterday above 12000 level.
Bulls succeeded to close nifty above 12050 resistance zone.
Today it marked new all time high.
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12250-12300 next upward levels to watch for.
Regards,
suryadev bandari
research Analyst
www.earningwave.com

Down trend to resume again. Do not fall in Bull Trap.

Nifty achieved our previous downside target zone 7700-7500.
From there it bounced back to 8700+ today.
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If possible, short sellers can initiate fresh shorts in Index with stoploss above 9100 lvels.
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Today is March Series FnO expiry, so we can see huge volatility in Market.
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Resistance 9000-9100.
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Regards,
Suryadev Bandari
Research Analyst