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Showing posts with the label nifty outlook

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

Bulls Stepped in and lifted nifty. More ahead.

 As expected in last update, Bulls lifted nifty higher from gap area 14500-14630 zone and now trading at 14800 above. key level to watch out here is 14880 spot. Once nifty cross this resistance level, we can see more higher levels ahead. Key supports remain at 14500-14400 zone. Avoid short selling and build long positions. Pharma and Banking looks hot. Regards, Suryadev Bandari Research Analyst www.earningwave.com Previous updated chart Latest Nifty Chart.

Trend remain Bearish below 14880 spot.

 Nifty trend remain bearish as long as nifty trade below 14880 spot level. Once nifty breaks yesterday's low , selling pressure to increase more. Final support for Bulls is at 14630.   Bears get more strength belwo 14630 spot. Hence, watch these two levels for further trend confirmation. Resistance 14880 Support 14630. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Bulls need to protect 14660 support level to move forward. Watch 14980 on Higher side.

 nifty cmp 14744. Friday, nifty tested 14352 low and from there it bounced back to day high at 14787. This 435 points rally consists of only 3 inner waves. If this is impulsive up move, we shall see one more up move above 14784   14860 and then 14970. If nifty slips below 14640, its a warning signal that, up move attempt failed and nifty to move lower than 14352.  Key Points to consider: 1. Hourly charts indicating that on Friday Bulls strongly close above resistance level 14708.  Immediate support comes at 14668. 2. Daily charts, Strong Resistance face at 14995. Immediate Support at 14680. 3, Weekly Charts showing that some kind of profit booking is happening at higher levels,  Weekly key resistance at 14973, Support at 14350 then 14010. Except short term  moving averages, Medium and Long  term Moving averages are strong and up momentum intact. Hence watch 14973 On upside and 14350 on Downside , to get to know what actually market wants to go. Hence watch support and resistance level

Buy on Dips Market. 15077-15265 Upside levels to watch.

 Bulls are in full Josh. Broad indices participating in current rally so this rally to continue further.  Buy On Dips market.  Current market providing opportunities for both Bulls and Bears. Shorting in this kind of market needs expertise so normal traders avoid shorting and Buy on Every dip to participate in rally. Majority of sectors completed corrective pattern and begun fresh upmove. Be stock specific in entering trades.  Metals, Pharma, Banking stocks looking bullish. Nifty has begun its fresh upmove from Budeget day.  On the Upside watch 15077-15265 levels to watch. On the down side supports exists at 14680-14600 zone. Regards, Suryadev Bandari Research Analyst www.earningwave.com

61.8% retracement done in Nifty. 13811-13775 gap area acts as support. Markets can bounce.

Nifty cmp 13824.  Nifty retraced 61.8% of previous wave.  Nifty has gap area at 13811-13775 zone, this can acts as support zone. Most probably market fall can stop here and fresh upmove can start from here. Most of the stocks also at finishing stage of wave 4 correction, impulsive wave can begin soon in high beta stocks. Be stock specific. Levels to watch: Move above 14000 positive indication for Bulls. Move above 14230 bullish confirmation. Bears active move below 13600. Regards, Suryadev Bandari Research Analyst. www.earningwave.com

Expanding Flat pattern at the ending process. Bulls can stage back and lift nifty upward.

 Previously nifty expected pattern was Running Flat pattern. By updated data, it appears like Expanding flat pattern in which, a and b waves are completed and wave c of corrective pattern either completed or about to complete its formation. Once wave c of corrective pattern ends, we can witness sharp bounce back. Long term indicators suggesting Bullish outcome this month. Support 14150-14350. Resistance/Targets 14800+ Regards, Suryadev Bandari Research Analyst www.earningwave.com