Earning Wave

Be ready for new lows.  Unfortunate for day traders, SEBI imposed restrictions on short selling. A trader can take short selling positions only limited to his  stock holdings as per current market value. If you dont holding stocks in deemat, you are not eligible for short selling at all. Means, SEBI allowing only hedging opportunities for those who already owned stocks. Those who already bought and holding put options or carrying short selling on Friday, they can have choice to carry or exit only. New positions not allowed. Today possibly we may witness lower circuite. As more negative news spreading related to Covid-19, this crash can continue some more days  New investors accumulated capital and wait for good opportunity to begin investment. Regards, Suryadev Bandari Research Analyst.

Short seller's market. Sell on Every Rise. Traders Market. Last Friday, Nifty made new low 8555 and from there witnessed bounce back in the form of counter trend wave. From 10150, Next leg of selloff  Impulsive down wave has begun. yesterday , as we expected in last update, nifty recorded new low 7840. Due to Weekly options settlement and in minor counter trend wave it bounced to 9575 level but failed to sustain above it. As per classical Technical Analysis, Rule of Polarity says that Support once breaks it becomes Resistance. It proved again yesterday. 8555-8600 zone now acts as resistance levels. Yesterday's low 7840 now vulnerable to break down again and new lows possible. Significant levels to watch on downside are 7700-7500. By Observing market momentum, we can easily get the clue that Every Bounce getting soldoff. Sell on Rally market. New investors need to stay on sideways till market correction finished. This is traders market, especially short sellers mark

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