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Bulls are Back.

 Bulls are back.
As expected, nifty bounced from 17070 levels after retesting and sustain above crucial support 16950.
Now trading at 17280.
Today's crucial support zone to watch 17280-260 zone.
As long as this support zone holds, nifty likely to move up towards 17430 levels.
Keep stoploss below 17260 zone.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

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 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