Nifty alert. 17850 is very critical support.

Nifty recorded high 18267 and reversed from there.

18280-325 is very strong resistance zone.

On the down side 17850 is very critical support for nifty.

Trend deciding level.

If Bulls able to held this support 17850 level, then we can see one more attempt to move higher.

If, incase, Bulls fails to hold this 17850 support, then we can see deeper correction to resume.

Hence, watch 17850 spot level keenly.

Trade accordingly.

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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