Initial range Breakout done. Now crucial resistance trendline at 17700-800.

Bulls successfully surpassed initial resistance at 17440 and trading higher.

Next trendline resistance at 17700-800 zone, once this falling trendline resistance breakout, then bulls get even more force to move higher.

Be careful in selecting stocks at this juncture.

Metals, Banking, IT, Auto sectors looks bullish from hereon.

Supports at 17370-310 zone.

Resistance 17520-17700-17800.

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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