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Wide range. Wild Moves. Big Risk. Big Opportunity.

Wide range. Wild Moves.
Friday nifty witnessed lower circuit first and then rebound from 8555 to 10159 level.
1600 points wild move in a single day. Unimaginable range for intraday. Once in life time move. Great opportunity for those who track technicals keenly. These kind of moves tests ability of Analysts. Hard for average traders. Big opportunity comes with bigger risks.
Risk averted traders can step aside from markets. These kind of wild moves to repeat in future also but range may differ.
Elliott Wave Principle perspective, Wave 3 down has finished at 8555, wave4 start from there. wave 4 and wave 5 formation is still due. That's why we expecting some more volatile moves in short term point of view.
Its not a right time to initiate fresh long positions for investment purpose.
New investor still need to wait for completion of correction.

Intraday point of view,
Nifty range for the day would be 9500-10500 range.
Buy near support zone and sell near resistance zone.
Do not carry positions for next day. This is trading opportunity only.
keep stoploss as per your risk bearing capicity as we expecting wild moves.
Risk remains high in short time.
Consider long side in strong sectors and stocks and consider short selling in weak sectors and weak stocks for intraday.

Resistance 10300-10500.
supports 9500-9100.

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

Nifty@ New High. More to come.

As expected in last update, Nifty took support around 11900 and rebounded yesterday above 12000 level.
Bulls succeeded to close nifty above 12050 resistance zone.
Today it marked new all time high.
This upmove to continue further with short covering rally and fresh long positions.
12250-12300 next upward levels to watch for.
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