Markets preparing for Big Move? Top Reversal.

Nifty cmp 18125.

It appears that, nifty preparing for top reversal.

Tonight's Fed Rate decision and Tomorrow's RBI Mpc committee meet would decide next direction of the market.

As of now, As per Technical INdicators, parameters, It appears that, markets closing doors for further upmove.

Next Resistance at 18350.

Below 18060, Seller can be active and drag nifty further.

Cautious on holding long positions.

Nifty next crucial supports at 17700 and 17420.

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.

Earning Wave

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