16303 minor hurdle to surpass to move ahead towards 16400+

#nifty50 cmp 16280.

16303 spot level crucial to breakout to move higher levels towards 16400+ .

Yesterday nifty successfully breakout previous swing high 16275 spot and closed above it.

Due to global markets, today nifty opened little below previous close and successfully swing back to green zone.

On going upward move likely to continue further towards 16400+ from current levels.

Keep 16100 as strict stoploss for long positions.

regards,

suryadev bandari

research analyst

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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