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Showing posts from March, 2021

Bulls need to protect 14660 support level to move forward. Watch 14980 on Higher side.

 nifty cmp 14744. Friday, nifty tested 14352 low and from there it bounced back to day high at 14787. This 435 points rally consists of only 3 inner waves. If this is impulsive up move, we shall see one more up move above 14784   14860 and then 14970. If nifty slips below 14640, its a warning signal that, up move attempt failed and nifty to move lower than 14352.  Key Points to consider: 1. Hourly charts indicating that on Friday Bulls strongly close above resistance level 14708.  Immediate support comes at 14668. 2. Daily charts, Strong Resistance face at 14995. Immediate Support at 14680. 3, Weekly Charts showing that some kind of profit booking is happening at higher levels,  Weekly key resistance at 14973, Support at 14350 then 14010. Except short term  moving averages, Medium and Long  term Moving averages are strong and up momentum intact. Hence watch 14973 On upside and 14350 on Downside , to get to know what actually market wants to go. Hence watch support and resistance level

Flat Pattern in larger Degree.

 Nifty formed Flat pattern in larger degree where C=A . done today. Most probably , fall can be halt here and take U turn to upside from current levels. Wait and Watch. We get confirmation, once nifty moves above 14680. Regards, Suryadev Bandari Research Analyst

Bullish Harami Pattern@support level, Trend Reversal signal.

 As expected in last update, Bulls held crucial support 14700. Today Nifty daily charts formed BULLISH HARAMI pattern, highly successfull reversal patternm indicating that immediate fall halted and fresh up move has started. on the way to upside nifty faces hurdles at 14940 and 15045. Above which we shall see continuation of upmove. Regards, Suryadev Bandari Research Analyst

Observation: Price behavior near support line.

 Observe Price behavior near Support line. In Bullish Scenario: 14953.  In Bearish Scenario: 14578. Regards, Suryadev Bandari Research Analyst

Market completed complex double correction pattern. Fresh up move to resume.

 Nifty almost completed complex double correction pattern (abc-x-abc) at yesterday's low. Now its resuming up move. Once it cross 15115 spot, we get confirmation. Most of the stocks too completing correction pattern and impulsive up move can begin any time soon. Banking and Financials can lead nifty up side. Cover shorts, if any. Go long with yesterday's low as stoploss.  Buy on Dip market. Regarding, Suryadev Bandari Research Analyst

Maha Shiv Ratri wishes to everyone.

Har Har Mahadev (Every one is Mahadev). This phrase / slogan is used more as a metaphor. Can you be Mahadev of your life. Life is too big a subject to talk, so I will restrict myself to business of investing!  In the great churning (buy and sale) of ocean (markets ), search for amrit (returns) was carried out both by sur and asur (buyers and sellers).  Bhagwan Vishnu (SEBI/ Govt) provided base in form of 🐢 to Mother Earth. Mountain( Stock exchanges) was used as shaft for churning the ocean both by sur and asur. Both wanted Amrit / Mohini / Chintamani / Kalpatru/ Kamdhenu.  But before all these things, came halahal/ vish ( Volatility).  Everyone wants Amrit ( returns)but without halahal (volatility).  Only Mahadeva has a capacity to hold the halahal in his throat.  You can become Mahadev of investing when you can hold the halahal (holding the portfolio when it’s showing negative returns) without gulping it (not selling it).  If you have capacity to hold halahal ( volatility), you will