Minor a-b-c correction done at 16180. Now Bulls are back.

As mentioned in last update, Nifty corrected from 16300 to 16180 levels around yesterday. My expectation was it can test 16150-160 range but it took support at 16180 level and take a U turn.

Now, Bulls are back into action.

Nifty can move up to 16388-400 zone today.

Stock specific action can be visible today.

Investors and Traders must be choosy in selecting stocks.

Banking and Financial Sector looks promising to take fresh longs for short term and long term investment purpose.

Be with the industry leaders in stock selection.

Supports 16150-16100.

Resistance 16323-388-400.

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.

Earning Wave

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