Market in Bear Grip. Beware of Long positions.

Nifty achieved all my previous targets as mentioned in last update even exceeded.
Now, Market in the hands Bears. As nifty broken important psychological Bulls support 12000 and trading continuously below that support,( cmp 11943), next downward targets would be 11900-11880 zone.
Avoid building fresh long positions at this juncture as we can see more selloff in market.
Technical indiacators such as MACD-Below Zero line and RSI below 50 line indicating further weakness to be continue some more time.
Elliottwave pattern also suggesting that more pain ahead.
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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