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Impulsive down wave still in formation. Avoid longs till it complete formation.

Impulsive down wave still in force. Avoid longs till it complete its formation.
One minor wave down is still pending to complete  impulsive down wave.
As per the latest data, 3rd impulsive down wave still in force and one minor inner wave down is pending to complete. 

It can fall to anywhere between 10200-9950.
10000-9950 is strong support for Nifty.
Volatility rose to 31.56. 

We can observe that from past one month, we witnessed sharp moves in market. Wild swings changing direction very fast. Catching these kind of wild swings are very tough to analysts and impossible to normal traders.
Elliott Wave Principle Helping me to catch these wild swings most of the time.
Now come to current scenario, there is one more minor down wave is due and after that rebound can resume as part of counter trend wave.

Major trend is still downside. Any bounce is counter trend only.

Traders can utilize these wild swings as best trading opportunity as these swings range is huge between 150-400 points range.  Entry and exit is very crucial as stoploss levels are at distance so risk is heavy. Knowing exact support and resistance levels is very crucial to get profitable trades.

Resistance 10600-10700.
Supports 10200-10000-9950.

Suryadev Bandari
Research Analyst

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Up move to continue. New Highs to form again.

Nifty recorded new high on Friday 12311.20
After recording new high, nifty faced minor selling pressure and dipped down to 12217 level.
There again Bulls entered fresh longs and index closed nearly 12256 level.
Today, Nifty again likely to record new highs and this up move to continue more towards 12360-12375 levels.
Major High beta stocks ready to move higher levels.
Banknifty did not made new high on Friday, so most probably , banknifty to test previous highs today and may record new high.
Avoid short selling. This is buy on dips market.
Nifty Resistance 12360-12375-12400.
Support 12210-12170.
Suryadev Bandari
Research Analyst

Markets positioned to make new high. Best time to go Long.

Yesterday, after testing 12285-12290 zone, nifty faced selling pressure and dipped to 12211 zone today. Major trend remain in upward. Hence, good time to enter long positions to participate in next leg of rally above 12300. Overall breadth positive. Bullish divergence visible in short t.f. charts.
Buy on Dips markets.
Suryadev Bandari
Research Analyst

Down trend to resume again. Do not fall in Bull Trap.

Nifty achieved our previous downside target zone 7700-7500.
From there it bounced back to 8700+ today.
As per the updated data, this bounce is in corrective pattern only.
Its a Bull trap. Bulls should avoid falling in this trap. This bounce is short term only.
Down trend to resume again and it can break 7500 levels too.

Stay Cautious.

Investors need to wait for some time.
If possible, short sellers can initiate fresh shorts in Index with stoploss above 9100 lvels.
This is for High risk traders only. Nifty daily range become huge so both risk and rewards also huge.
Trade Accordingly.

Today is March Series FnO expiry, so we can see huge volatility in Market.
Market taking short breath only. Bears strikes again.

Avoid fresh long positions.
Its a sell on rally market, But due to restrictions on short selling, not everybody can short sell in this market. Conditions apply.

Resistance 9000-9100.
Downside levels 7700-7500.

Suryadev Bandari
Research Analyst