Expanding Flat pattern at the ending process. Bulls can stage back and lift nifty upward.

Previously nifty expected pattern was Running Flat pattern.

By updated data, it appears like Expanding flat pattern in which, a and b waves are completed and wave c of corrective pattern either completed or about to complete its formation.

Once wave c of corrective pattern ends, we can witness sharp bounce back.

Long term indicators suggesting Bullish outcome this month.

Support 14150-14350.

Resistance/Targets 14800+

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.

Earning Wave

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