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Showing posts from April, 2021

Triangle pattern at the end. next target upside is 15000-15150 zone.

 NIfty formed Triangle pattern after testing 15050 yesterday. now that triangle pattern completed or about to complete. this can be low risk entry for fresh long positions.  Important support at 14650-14550 zone. once nifty moves above 14820 spot level, we more buying support from Bulls. Regard, Suryadev Bandari Research Analyst

Bulls stepped in at 14150 levels and leading nifty toward 15200-15250.

 As expected at 14200 levels, bulls stepped in and driving markets higher. 14140 acted as strong support as forecasted. Bulls successfully breakout 14500 barrier and there they gained strength and leading nifty higher towards 15200-15250 levels , there we shall see corrective pattern range breakout. Overall trend Bullish. Auto, Banking and financials and Pharma looking strong for fresh long positions. As today April Series FnO expiry, we shall see expiry related moves. Bulls are in strong position now, buy on dip mode. Keep stoploss below 14650 level for long positions . Regards, Suryadev Bandari Research Analyst.

Bullish Divergence in Hourly charts. Bulls can step in any time.

 Nifty formed Bullish divergence in Hourly charts. Weekly basis too nifty tested crucial supports again and getting ready for bounce back. Bulls can step in any time now and lift market towards 14500-14550 zone. Support at day low 14190-14050.  Regards, Suryadev Bandari Research Analyst

Correction phase almost completed. Nifty need to surpass 14705 to get confirmation.

 From 16th February,2021 to 12 April, 2021, nifty spent in Correction phase.  Finally it almost finished its correction phase near 14248, on 12 April, 2021. Most probably it started fresh impulse wave from there, we get confirmation once nifty able to surpass 14705 spot level. Next immediate resistance is at 14675 and 14705.  Once this resistance zone breakout, Bulls get more strength. Supports at 14588 and 14290. Pharma sector, Auto Sector and FMCG sectors looks bullish for short term point of view. Fresh longs can be initiated in frontline stocks in above sectors. As long as nifty holds 14290, its a Buy on Dips market. Regards, Suryadev Bandari Research Analyst

Bulls Stepped in and lifted nifty. More ahead.

 As expected in last update, Bulls lifted nifty higher from gap area 14500-14630 zone and now trading at 14800 above. key level to watch out here is 14880 spot. Once nifty cross this resistance level, we can see more higher levels ahead. Key supports remain at 14500-14400 zone. Avoid short selling and build long positions. Pharma and Banking looks hot. Regards, Suryadev Bandari Research Analyst Previous updated chart Latest Nifty Chart.

nifty holding ground on 14530-14630 gap area. Bulls can Step in.

As expected nifty fell from Thursday's high. Achieved my expected level on down side.  Now nifty holding on gap area 14530-14630 zone. here, Bulls can step in and lift market higher again. Move above 14630 would be considered as bullish sign. Cover your shorts here and Go long with stoploss below 14440. regards, Suryadev Bandari Research Analyst.

Trend remain Bearish below 14880 spot.

 Nifty trend remain bearish as long as nifty trade below 14880 spot level. Once nifty breaks yesterday's low , selling pressure to increase more. Final support for Bulls is at 14630.   Bears get more strength belwo 14630 spot. Hence, watch these two levels for further trend confirmation. Resistance 14880 Support 14630. Regards, Suryadev Bandari Research Analyst