Earning Wave

As per the updated wave count,  5th Impulsive down wave has started in market. Nifty can breakdown 8000 mark. Avoid bottom fishing. Bottom has not made yet. Protect capital. Do not average in lossing stocks. This is falling knife. Do not try to catch it. Go with the flow.  This momentum favors short selling traders. This crash very different from 2008's. Small and midcaps already bleeded. Now large caps started bleeding. Large cap stock can bleed more on downside.  Short sellers still find shorting opportunity in large caps. Choose stock wisely. Next downside target 8000. Regards, Suryadev Bandari Research Analyst

Nifty facing selling pressure at every bounce. Buying support not visible at lower levels. Global news and Fear of COVID-19 dragging markets lower. Nifty failed to hold above 9500 and drifted lower even below 9000 levels. Now it appears that wave 5 impulsive down wave dragging markets lower levels, 8600-8500 possible.  Unless nifty moves above 9100 level, this selling pressure likely to continue. Avoid fresh long positions till the dust is settled. Risk is high on both sides. trade accordingly. Regards, Suryadev Bandari Research Analyst

Wide range. Wild Moves. Friday nifty witnessed lower circuit first and then rebound from 8555 to 10159 level. 1600 points wild move in a single day. Unimaginable range for intraday. Once in life time move. Great opportunity for those who track technicals keenly. These kind of moves tests ability of Analysts. Hard for average traders. Big opportunity comes with bigger risks. Risk averted traders can step aside from markets. These kind of wild moves to repeat in future also but range may differ. Elliott Wave Principle perspective, Wave 3 down has finished at 8555, wave4 start from there. wave 4 and wave 5 formation is still due. That's why we expecting some more volatile moves in short term point of view. Its not a right time to initiate fresh long positions for investment purpose. New investor still need to wait for completion of correction. Intraday point of view, Nifty range for the day would be 9500-10500 range. Buy near support zone and sell near resistance zone. Do not carry

Nifty fell from 12440 to 9600 level. Yesterday it broken long term support trendline and closed below it. Intensity of selloff indicating that, this pain likely to continue further. Range for the day rose up to 700-800 points in nifty 2000-2500 points in sensex. Very wild moves, average trader hard to trade. Below 9700, nifyy next crucial retracement levels are 8700 and below that 7500 level. Sgx nifty already trading near 8800 Level. Secure capital first, without it trader can not do anything.  Normally , average trader takes blind trades in this kind of market. Avoid it. Stay away from market and wait for good opportunity, otherwise, capital loss in the form of stoplosses. Avoid revenge trading. Its hard to stop falling market single handedly. Wait till negative sentiment to erode and wait some time for  normalcy  in markets. In 2009 bull phase begun around 2550 level and top made around 12440. 38% retracement level already broken. 50% retracement at 7500. We shall see whether this p

Impulsive down wave still in force. Avoid longs till it complete its formation. One minor wave down is still pending to complete  impulsive down wave. As per the latest data, 3rd impulsive down wave still in force and one minor inner wave down is pending to complete.  It can fall to anywhere between 10200-9950. 10000-9950 is strong support for Nifty. Volatility rose to 31.56.  We can observe that from past one month, we witnessed sharp moves in market. Wild swings changing direction very fast. Catching these kind of wild swings are very tough to analysts and impossible to normal traders. Elliott Wave Principle Helping me to catch these wild swings most of the time. Now come to current scenario, there is one more minor down wave is due and after that rebound can resume as part of counter trend wave. Major trend is still downside. Any bounce is counter trend only. Traders can utilize these wild swings as best trading opportunity as these swings range is huge between 150-400 point

Bulls can stage back and can lift market higher. Monday nifty witnessed severe down fall due to global markets and Domestic bad events. Intraday it fell down to 10295 and later managed to close above 10450 level. As of Now, Impulsive down wave from 12240 to 10295 almost finished. From here, we can expect decent pull back rally towards 10500+ levels. Nifty has strong support at 10200-10000 zone. Option Chain Data also suggesting that nifty has strong support at this zone. Hence, short term traders can initiate fresh long positions between 10280-10350 zone for higher levels target. Globally, Crude prices also recovering from multi year low levels. Market can take cue and surge higher. Intensity of bad news slowly fading out. Sentiment can improve slowly. Resistance 10700-10600-10500 Supports 10300-10200-10000. Regards, Suryadev Bandari Research Analyst

Nifty broken 10500-10400 support zone easily. Selling pressure intensified. Step aside and wait for next clear signal.