Bulls absorbed yesterday's selling pressure and held Ground. Trend Up.

Yesterday, Due to RBI policy markets witnessed sharp selling pressure at higher levels but Bulls able to sustain crucial supports. Today Markets moving up with minor gap up.
Trend Remains Up.
Buy on Dip mode.
As long as Nifty holds 12000-11950 zone, Its trend up and moves towards 12100-12150+ levels.
Short Term Technical Indicator in Buy mode and bouncing from Oversold zones.
Most probably this upmove likely to continue further.
Upward targets 12100-12150+
Supports 12000-11950-11900.
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.

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