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Showing posts with the label impulse

Banknifty Heading downwards. Key crucial support 42750. Next target 42000-41700.

 Banknifty broken key support and trading just above crucial support 42750. Break below this support means , more pain ahead in Banknifty. Next support zone 42000-41700. Resistance remains at 43200.43300. Its putting pressure on Nifty too. As far as possible, exit from long positions in Banking stocks. Regards, Suryadev Bandari Research Analyst

Most preferred Wave -Bullish outlook. Technical view apart from Bearish sentiment.

 Nifty cmp 17171.95 On Friday, Global markets Bleed more than 2.5%  Even SGX NIFTY displaying global sentiment. Apart from that, From the Elliott Wave Perspective, Under current trend is Bullish as recent selloff from 17414 to 17171 is part of Wave ii correction pattern. which can extend till 17080. From there Bullish impulse wave iii upward can begin. Stoploss or Pattern invalidation point is move below 16820 spot level. As long as this level holds, Bullish outlook intact. Regards, Suryadev Bandari Research Analyst www.earningwave.com      

Bulls leading Nifty.

  #NIFTY50 CMP 17484.  Successfully surpassed critical resistance level by gap up opening.  Now in Buy on Dip mode.  On higher side next resistances are at 17640/17795.  supports at 17280-250 zone. Stock specific moves in action. Regards Suryadev Bandari Research Analyst     http:// earningwave.com #Elliottwave #Earningwave #suryadev

17300 IS CRUCIAL LEVEL FOR NIFTY.

 NIFTY CMP 17247. 17300 IS VERY CRUCIAL LEVEL FOR BULLS. IN CASE, BULLS REGAIN THIS 17300 ZONE AND SUSTAINS ABOVE IT, THEY CAN LIFT NIFTY FURTHER UPWARD TOWARDS 17550-17650-17770. ON DOWN SIDE KEEP STOPLOSS BELOW 16950. REGARDS, SURYADEV BANDARI RESEARCH ANALYST  

Nifty brokendown key support 17070-17000 zone today. Bears getting Strength.

 Nifty cmp 16950.  Bulls failed to hold key support zone 17070-17000. Bears getting strength. More selling pressure ahead. Once nifty break and close below 16800 spot level, we can witness more selling pressure towards 16400--- levels in coming sessions. Resistance 17150-250. Supports 16800-700/16400/16100. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Bulls can take a pause before further rally.

 Recent swing low 17180 to today's high 17827, it appears to be completed impulsive wave, hence, before resuming rally, Bulls likely to take a pause for couple of days. A-B-C correction pattern can begin any time from current levels, Buy on Dip mode. Major trend Bullish, Short term trend Bearish. Move below 17750 would trigger selling pressure. Lower time frame charts already formed Negative Divergence in Technical Indicators. Be alert on holding long positions. On lower side, 17550-17450 acts as support zone. Regards, Suryadev Bandari Research Analyst

Initial range Breakout done. Now crucial resistance trendline at 17700-800.

 Bulls successfully surpassed initial resistance at 17440 and trading higher. Next trendline resistance at 17700-800 zone, once this falling trendline resistance breakout, then bulls get even more force to move higher. Be careful in selecting stocks at this juncture. Metals, Banking, IT, Auto sectors looks bullish from hereon. Supports at 17370-310 zone. Resistance 17520-17700-17800. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Bulls crossed Most psychological resistance 18000 level.

 Finally, nifty crossed successfully most rigid and psychological resistance 18000 level and successful in holding above this level since it crossed today. Now short covering and fresh buying will lift nifty further more above 18100-18150 zone. Even now, there is plenty of buying opportunities in select sectors and select stocks. Avoid short selling at this level. Technicals are strong and favoring bulls. Next resistance zone to watchout for next move 18100-18150 zone. Supports 17850-800 zone. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Bulls stepped in at lower level and moving to breakout resistance zone.

 Nifty consolidated in tight range of 15600-15960 from past one month approx, now its ready to breakout this range and move higher side. Elliottwave Point of view, sideways double correction pattern done at recent low 15575. From there we witnessed Buying attraction in market. Next level to watch on higher side is 15975 and 16070 zone. As we entered into last week of Monthly expiry, I am expecting sharp moves on higher side once nifty able to surpass 16070 level. IT and Banking and Finance sectors likely to support nifty to move higher. Traders and Investors can initiate fresh long positions with stoploss below 15750 spot level. Regards, suryadev bandari research analyst

Series of Bullish Divergence formations in critical support zone. Bulls can strike back any time today.

 Nifty trading in critical support zone. Series of Bullish divergence formations in this support zone indicating that Bulls can strike back anytime today. Avoid Fresh short selling. Its time to cover shorts, if shorted at higher level, if any. Technically oversold. Every dip can be a buying opportunity for investors and short term traders . Regards, Suryadev Bandari Research Analyst www.earningwave.com

Minor Flat pattern completed today. Cover shorts. Bull run to resume.

 NIfty completed minor wave in flat pattern as shown in chart below, Bulls to resume their move from hereon, which can take nifty above 16000 levels. Avoid fresh shorting. Build fresh long positions with stoploss below 15500. Metals, FMCG, IT can lift nifty upwards. Resistance 16070-16220. Support 15500-550. Regards, Suryadev Bandari Research Analyst www.earningwave.com  

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Bulls stepped in at 14150 levels and leading nifty toward 15200-15250.

 As expected at 14200 levels, bulls stepped in and driving markets higher. 14140 acted as strong support as forecasted. Bulls successfully breakout 14500 barrier and there they gained strength and leading nifty higher towards 15200-15250 levels , there we shall see corrective pattern range breakout. Overall trend Bullish. Auto, Banking and financials and Pharma looking strong for fresh long positions. As today April Series FnO expiry, we shall see expiry related moves. Bulls are in strong position now, buy on dip mode. Keep stoploss below 14650 level for long positions . Regards, Suryadev Bandari Research Analyst. earningwave.com

Bullish Divergence in Hourly charts. Bulls can step in any time.

 Nifty formed Bullish divergence in Hourly charts. Weekly basis too nifty tested crucial supports again and getting ready for bounce back. Bulls can step in any time now and lift market towards 14500-14550 zone. Support at day low 14190-14050.  Regards, Suryadev Bandari Research Analyst www.earningwave.com

Correction phase almost completed. Nifty need to surpass 14705 to get confirmation.

 From 16th February,2021 to 12 April, 2021, nifty spent in Correction phase.  Finally it almost finished its correction phase near 14248, on 12 April, 2021. Most probably it started fresh impulse wave from there, we get confirmation once nifty able to surpass 14705 spot level. Next immediate resistance is at 14675 and 14705.  Once this resistance zone breakout, Bulls get more strength. Supports at 14588 and 14290. Pharma sector, Auto Sector and FMCG sectors looks bullish for short term point of view. Fresh longs can be initiated in frontline stocks in above sectors. As long as nifty holds 14290, its a Buy on Dips market. Regards, Suryadev Bandari Research Analyst www.earningwave.com