Bulls back into ACTION.

Bulls regained strength near 40Day Moving Average Yesterday and sudden spurt visible in last 40mins .

Now today nifty breaking 11991 resistance in opening hour.

Bulls now have enough strength to breakout 11990 resistance and close above 12000 levels.

Short covering rally likely to come in last hour of today trade.

As today is weekly options expiry, we may see sharp moves in last hour.

Buy on Dips mode.

Avoid short selling.

Its time to cover short positions, means to exit short sell positions.

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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