Market Consolidating at lower levels. Bulls can step in anytime.

Bulls can stage back and can lift market higher.
Monday nifty witnessed severe down fall due to global markets and Domestic bad events.
Intraday it fell down to 10295 and later managed to close above 10450 level.
As of Now, Impulsive down wave from 12240 to 10295 almost finished.
From here, we can expect decent pull back rally towards 10500+ levels.
Nifty has strong support at 10200-10000 zone.
Option Chain Data also suggesting that nifty has strong support at this zone.
Hence, short term traders can initiate fresh long positions between 10280-10350 zone for higher levels target.
Globally, Crude prices also recovering from multi year low levels. Market can take cue and surge higher. Intensity of bad news slowly fading out. Sentiment can improve slowly.

Resistance 10700-10600-10500
Supports 10300-10200-10000.

Regards,
Suryadev Bandari
Research Analyst

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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