Markets at Crucial Juncture. Close Below 17555 would trigger panic selling.

Nifty reversed from 18200 zone and fell 17450 on Budget Day.

Now nifty holding on crucial support zone 17555-17500 zone.

Once nifty close below this level, we can say , panic selling may trigger.

Fundamentally, many bad news coming every day. this kind of panic can continue some more days.

Avoid buying fresh long positions for investment.

Next level to watch 16800.

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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