Bulls crossed Most psychological resistance 18000 level.

Finally, nifty crossed successfully most rigid and psychological resistance 18000 level and successful in holding above this level since it crossed today.

Now short covering and fresh buying will lift nifty further more above 18100-18150 zone.

Even now, there is plenty of buying opportunities in select sectors and select stocks.

Avoid short selling at this level.

Technicals are strong and favoring bulls.

Next resistance zone to watchout for next move 18100-18150 zone.

Supports 17850-800 zone.

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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