Earning Wave

Bears failed to bring nifty down below 9000 support. Bulls successfully defended support and heading towards 9175 resistance zone. Support remains same  Regards, Suryadev Bandari Research Analyst

From past few days Bulls trying hard to defend critical support zone 9030-9000. Friday in first half , they lost this zone but they reclaimed it in 2nd half of the day and closed above it. Bulls get strength above 9175-9200 zone.  Incase bulls succeed in surpass 9200 level, we can expect minor pull back rally to squeez shorts. Today Bears again strike to break down 9030-9000 support.  We need to watch who will win the battle.  Whoever wins trade in that direction. Regards, Suryadev Bandari Research Analyst

Bulls lost crucial supports 9030-9000. Now we left alternate wave count which states major down trend has begun.  Avoid building long positions. Regards, Suryadev Bandari Resesrch Analyst

Bulls staged back and protected crucial support zone 9030-9000 and succeeded to close above 9130. Today also bulls can take nifty higher above 9175-9230 zone. As long as nifty holds 9030-9000 support zone, it can move up to 9250-9400+ levels positionally. Short term traders can initiate fresh long position for 9250-9400 targets. Keep strict stoploss below 9030-9000 zone. Regards, Suryadev Bandari Research Analyst

Bulls protected crucial support level. As long as this support holds, upward journey possible towards 9600-9700 positionally. Avoid fresh short selling. TWEEZERS BOTTOM formed in daily charts. Bullush for short term. Short covering rally possible above 9175. Regards,  Suryadev Bsndari Research Analyst

Its time to stay cautious, nifty broken imp supporting trendline today. Only trading above last hope 9000-9050 zone. In case, this zone breaks down, major selloff possible. Keep eye on 9030 spot Regards, Suryadev Bandari Research Analyst

Yesterday Bulls succeeded in holding critical support zone 9100-9000. Bears failed to breakdown this important support. As per latest data update, Nifty chart indicating that still one minor upside wave possible towards 9600 first as there exists big gap areas ( Island reversal pattern). that's the reason today it attempted to move up above 9600 but bulls unable to hold higher levels in first attempt witnessing weakness. As per Rule of Polarity, Resistance becoming supports now. Yesterday it took support at previous resistance level 9050. Today it taking support at previous resistance 9350. Hence, all these patterns indicating that as long as nifty holds 9350, one more upward bounce possible. Upside targets would be 9600 first , then 9800 next target. Traders can initiate fresh long positions for short term point of view. Keep strict stoploss for longs below 9050-9000 zone. Entire bounce from 7511  is wave B of higher degree and is still in progress. There is no doubt that Wave B i