Holding above 15778, Bulls to take nifty higher towards 15945.

Nifty still in trading range between 15500 to 15965 range.

Any further move, nifty has to break this range.

Technically speaking, 15845 is crucial level to watch on Monday, once this level recapture by Bulls, we see more buying interest coming in market.

Bullish sectors for this week are IT , Metals, Realty and Pharma.

Stock specific moves can be visible. Be with sector leaders. Stock selection is crucial.

As long as nifty trades above 15500, this is Buy on Dips mode.

Technically,

RSI trading above 51 level and MACD ABOVE zero line.

Odds are still in favor of Bulls.

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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