15700 acts as laxman Rekha for Bulls and Bears.

#nifty cmp 15750.
recent fall from 16784 to today's low 15735 appears to be corrective as inner waves are overlapping on each other. Hence, this can be probably wave b of flat pattern, wave c of flat can bounce towards 16400-600 zone.
provided, nifty must hold 15730-700 zone on closing basis.
Close below 15700 would mean that, more downside targets open in coming sessions.
Hence, 15700 acts as laxman rekha for Bulls and Bears.
regards,

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

Search This Blog