Earning Wave

 Nifty successfully surpassed 16500 level and making new highs every day. Next technical level to watch is 16700-750 zone. Every minor dip is a buying opportunity. Be stock specific. Use proper stoploss for longs. Avoid short selling. Crucial supports are at 16450-16400 zone. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty rallied nearly 830 points non-stop in 7 trading sessions. Short term point of view, markets likely to take pause and can retrace to anywhere between 16150-15950. Short traders can book at least partial profits and wait for dip to re enter at lower levels. Banknifty too rallied from 34140 to 36220 , nearly 2000 points in 7 trading sessions. Banknifty can retrace anywhere between 35400-35000 zone. New traders can wait for a dip and initiate long positions at above said retracement zones. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty still in trading range between 15500 to 15965 range. Any further move, nifty has to break this range. Technically speaking, 15845 is crucial level to watch on Monday, once this level recapture by Bulls, we see more buying interest coming in market. Bullish sectors for this week are IT , Metals, Realty and Pharma. Stock specific moves can be visible. Be with sector leaders. Stock selection is crucial. As long as nifty trades above 15500, this is Buy on Dips mode. Technically, RSI  trading above 51 level and MACD ABOVE zero line.  Odds are still in favor of Bulls. Regards, Suryadev Bandari Research Analyst www.earningwave.com        

 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

 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

 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  

 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.

 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

 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

As expected in last update, Nifty moved upward from 15220 to 15400 zone  From 15430 level, minor corrective pattern has begun and it completed yesterday at 15170. Double correction pattern, zigzag and Flat pattern.  Moreover, Nifty tested lower gap between 15245 to 15185 zone. This gap held as crucial support on closing basis. Now Nifty heading towards 15450-15500 zone. Major trend up. Initiate fresh long positions for higher levels 15500+. Keep stoploss at 15040 for long positions. Regards, Suryadev Bandari Research Analyst www.earningwave.com

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

 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

As expected on Budget day's update, Bulls strike hard from lower levels. New all time High's keep on forming in Nifty and Banknifty. Six days of correction retraced fully in 2 trading days by Bulls.  Power of Trend. Elliottwave Forecasted this bounce at lower levels on Budget day itself. Short sellers slaughterd by Bulls. This buying spree continues further. Upside to argets and stock specific levels available to paid subscribers ok only. Regards, Suryadev Bandari Research Analyst. www.earningwave.com

Today Bulls awaiting for Budget presentation.  Market already corrected aggressively. Ground preparing for good decent bounce back. If anybody holding short positions or Put Options, cover them in intraday Dips.  Overall pattern looks like correction at the ending stage and anytime pull back rally begins. After Budget session, Bulls can strike back and take Nifty to higher levels. Regards,  Suryadev Bandari Research Analyst www.earningwave.com