Earning Wave

Nifty holding crucial support at 11280 and trading above it. As shorter time frame indicators in over sold position. As long as nifty holds 11280-11260 support level, minor bounce possible towards 11470-11500 resistance zone from hereon. Sell on Rise Mode. At present, its better to book profit in short positions. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Nifty achieved 11500 target and even tested 11400 spot level today. Now its possible to retest 11500 resistance one time before heading lower level. Hence, book profits in short positions once at current levels 11400 and wait for minor bounce towards 11500-11510 zone. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Nifty breached 11680 supporting trendline and trading below it. Now Bulls crucial support is at 11550 spot level. Bulls failed to hold opening higher levels and fall back below 11600 level. Now 11550 spot level plays trend deciding level for next direction. Once this support breaks down, today or tomorrow, bears likely to steer the market. Regards, Suryadev Bandari Research Analyst

Nifty finally broken triangle pattern on downside last Friday. Today opened gap down and broken 11600 spot too. Presently hovering above it. Final crucial support for Bulls is at 11550 spot level. Once this crucial support breaks down, we can witness freefall in market. Keep strict stoploss to long positions. Avoid building fresh long positions. Regards Suryadev Bandari Research Analyst

    As expected, nifty moved in tight zone entire day and in 2nd half, it breached supporting trendline at 11708. Closed on the fencing line. Today also watch 11680 spot level carefully, breaching and staying below this support means, nifty heading down towards 11624-11591 zone.  11800 remains as strong resistance levels. Technical indicators still on sell side momentum. As per the daily and Weekly time frame, nifty range would be 11800-11564. Yesterday, we tested 11795, hence, more chances to test lower range today. Keep strict stoploss orders to long positions.  IT, AUTO, PHARMA and Banking sectors likely to under perform today also. Avoid taking long positions these sectors. Positional traders can initiate fresh short selling after nifty breaking and staying below 11680 spot level for target of 11571-11545 spot targets. Resistance 11800, Supports 11680-11591-11545 Regards, Suryadev Bandari Research Analyst.

Nifty trading in tight range between 11680-11780 range. From past 21 trading days, Bulls defending 11545-11620 range, and Bears protecting 11800 level, who ever wins this tight range, will lead the market for next 20 days. Below 11680 weakness sets in and can drift towards 11570-11540 zone. On the higher side, if it stays above 11780, then it can bounce till 11840. Broader range for nifty is 11540 on downside and 11780 on upside. Bulls need to watch 11680 spot level as support. Bears need to watch 11840 as resistance, as long as nifty stays below 11840, trend is negative. In Higher time   frame, MACD and RSI trending downward, means in selling mode. Hence, every bounce faces selling pressure. That's why we can say it as "SELL ON RISE" MARKET. Regards, Suryadev Bandari Research Analyst

Welcome   Here, you get stock market related views, Forecasts, Trade Related information from SEBI Registered Research Analyst. Suryadev Bandari, Hyderabad. All information going to share here is based on Technical Analysis and Elliottwave Principle, which are believed to be suitable and helping traders in taking trade decisions. Read Disclaimer and Disclosure before taking any trading decision from this site.