Minor Flat pattern completed today. Cover shorts. Bull run to resume.

 NIfty completed minor wave in flat pattern as shown in chart below,

Bulls to resume their move from hereon, which can take nifty above 16000 levels.

Avoid fresh shorting. Build fresh long positions with stoploss below 15500.

Metals, FMCG, IT can lift nifty upwards.

Resistance 16070-16220.

Support 15500-550.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com


 

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