Earning Wave

  #nifty cmp 17690.  As expected nifty closed below 17850 and now heading down.  Below 17480 spot, we can see real intense selloff in market.  Keep watch 17480 level in nifty. www.earningwave.com Regards, Suryadev Bandari Research Analyst

 #nifty cmp 15780. 15500-450 support zone is Bulls last hope. More pain ahead below this zone. #elliottwave #earningwave #suryadev Regards, Suryadev Bandari Research Analyst.

 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

 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

 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

 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

 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

 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

 Nifty completing minor correction in major uptrend.  Soon we can see 15000 above in next week. Avoid fresh short selling.  Build long positions for short term trading. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 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.

 Be alert. Bulls have strength as long as nifty trades above 14637 spot. Once this level get breached, Bear get active. Hence, watch 14637 keenly.  Trade accordingly, regards, Suryadev Bandari Research Analyst www.earningwave.com

 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

Nifty has two possible scenarios open as of now. impulsive wave has begun from 13600 is unfolding in larger degree in which, i). Minor corrective wave done from 15257 to 14978. Now next leg of rally started from 14978 and heading for 15400-15500 zone. ii). Minor corrective wave still under progress and Nifty can retest 14978 -15000 zone again and from there bounce back to 15400.  Levels to watch for clear signal for trend. Watch 15257 breakout for resume of uptrend towards 15400-15500. Watch 14978 on lower side to resume of corrective wave which can restest anywhere between 14850 to 14550 zone. Hence watch for range breakout and trade accordingly. Regards, Suryadev Bandari Research Analyst. www.earningwave.com

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

 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

 Nifty cmp 14514. As mentioned earlier, every dip is a buying opportunity as major trend is upward. Nifty completed minor correction from 14652-14436 in the form of a-b-c zigzag.  From that low point , impulsive upmove has begun, which can move up towards 14700-14750. For the short term point of view, Metals and Banks likely to lead nifty upward. Be stock specific. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty major trend still upwards. Every dip is being bought into. As I mentioned before, every 100-150 point fall can be utilize to create fresh long positions for short term trading purpose. Nifty resistance trendline at 14300-14400 for short term. Nifty can achieve this target positionally. Stock specific moves likely to continue. Be stock specific in entering long positions. Avoid short selling for awhile. Go with the main trend. Banking sector looks bullish and pharma to join soon. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty cooled off bit from over bought zone and took support near 13130 and bounced back. Nifty successfully breakout 13500 level and now heading towards 14000+ levels positionally. Recent dip was a good buying opportunity for traders to enter new long positions. Fall was corrective nature and impulsive bounce is due. many of stocks witnessed minor correction and upmove is due and its started. Pharma and banking stocks looks good for short term long trades. Support 13130-13000. Upside targets 13900-14000. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty, as forecasted before, sustained 13400 support and move past 13600 level. Every dip being bought into. Majority of stocks still showing some kind of up move left. Bulls are very resilient at higher levels. In this kind of scenario, trader should follow trend with proper stop-loss orders. Going against trend is fatal to capital. Unless we get strong confirmation of trend reversal, one should avoid short selling ideas. Keep booking profits wherever possible at least partial.  For the short term point of view, some bounce can be expected in Banking, metals, pharma and IT sectors in coming sessions. Be stock specific trading.  Crucial supports at 13535-13500. as long as nifty trade above this level, it can bounce back to 13800+. Regards, Suryadev Bandari Research  Analyst www.earningwave.com