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Crucial supports held. Means, decent pull back rally t0 9350-9430????

Nifty faced resistance at 9300 levels as mentioned in the last update but bulls succeeded to hold crucial supporting trendline at 8900 levels around.
By looking at the latest data, nifty can climb again to 9350 levels from current levels, provided 8900 support holds.
Hence, avoid fresh short selling as Counter trend wave still in progress.
Unless nifty breaks down 8800-8900 supporting trend line, short term trend remains UP.
Pharma stocks and the Metal stock looks attractive at current levels. Selective stocks can be taken long positions for short term trading purposes.

Resistance 9200-9350.
Support 8900-8850-8800.

Regards,
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.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

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.
Regards,
suryadev bandari
research Analyst
www.earningwave.com

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.

Regards,
Suryadev Bandari
Research Analyst