Bulls are in strong position. 12280-12300 likely target.

Bulls in full action today.
As mentioned in last update, after forming Bullish Harami Candle pattern, today bulls are in a position to lift index further higher levels.
First swing high 12230 has taken out successfully by Bulls. Now, short covering rally can be expected as long as index trades above this swing high. Next upside direction would be towards 12280-12300.
Hence, every intraday dips can be bought into by Bulls.
Avoid short selling today.
Technical indicators clearly showing that upside momentum has builtup in market and it likely to continue.
Supports comes in gap area 12130-12045.
Market breadth also indicating strong Bullishness today.

Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

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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