New lows possible. stay alert.

Nifty facing selling pressure at every bounce.
Buying support not visible at lower levels.
Global news and Fear of COVID-19 dragging markets lower.
Nifty failed to hold above 9500 and drifted lower even below 9000 levels.
Now it appears that wave 5 impulsive down wave dragging markets lower levels, 8600-8500 possible. Unless nifty moves above 9100 level, this selling pressure likely to continue.
Avoid fresh long positions till the dust is settled.
Risk is high on both sides.
trade accordingly.
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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