13100 support intact. Nifty Heading towards 13900-14000.

Nifty cooled off bit from over bought zone and took support near 13130 and bounced back.

Nifty successfully breakout 13500 level and now heading towards 14000+ levels positionally.

Recent dip was a good buying opportunity for traders to enter new long positions.

Fall was corrective nature and impulsive bounce is due.

many of stocks witnessed minor correction and upmove is due and its started.

Pharma and banking stocks looks good for short term long trades.

Support 13130-13000.

Upside targets 13900-14000.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com

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.

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