Bulls regained strength and moving higher.

As expected, Bulls succeeded in defending crucial support zone 12000-11970 zone and bounced back from day low levels.
Now Nifty trading in Bulls zone, short covering rally can emerge any time from now.
Bulls can take nifty higher towards 12100-12150+ levels.
Avoid fresh short sellling.
Go long for higher targets.
11970-11900 acts as strong supports.

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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