After sideways consolidation, market back into upmove. Next targets 15920-16050.

NIfty cmp 15826.

After spending time in sideways consolidation, market back into upmove.

Bulls can take nifty upto 15920 first, then 16050 zone.

Supports at 15745 and 15670.

investors and traders can initiate fresh long positions in quality stocks

Once nifty surpass 15840 resistance level, then bulls will control the market.

Shorts squeeze can begin above 16000 level.

Avoid fresh short selling.

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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