Minor correction in Major upmove. 23.8% retracement done at 11086. Upmove to resume.

Nifty corrected from 11800 to 11085 today. Wave 3 begun from approx 8800 to 11800.

Recent correction done 23.8% retracement of wave 3 done.

From here on , nice and decent upward move likely to begin towards new highs.

Its time to fresh investment for long term investors. Traders can initiate fresh long positions with strict stoploss below 10900.

Regards,

Suryadev Bandari

Research Analyst

Comments

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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