Skip to main content

Avoid Aggressive Short Selling. Initiate long positions on every dip.

Impulsive downwave in Nifty temporarily halted.
Minor Bounce can be expected from 11000-11200 zone towards 11500-11600 in coming days.
Cover short sell positions and Short term traders can initiate fresh long positions on every dip.
Buy on Dip market.
Technical indicatorst to show Bullish Divergence formations.
Market in over sold and preparing for short covering rally.
Hence, avoid fresh short selling.
World markets too taking breath from sharp selloff.
For next coming few days, markets to trade in range bound.
Range is huge, so stoploss also at distance, i.e, risk is high. Hence, wait for nice dip and initiate longs at support zone. Book near resistance zone.
Resistance 11400-11550-11625.
Supports 11200-11100-11030.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com


Popular posts from this blog

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