Earning Wave

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Nifty pattern appears to be a-b-c running correction. Nifty cmp 14635. Move above 14700 would be a confirmation that nifty head towards 14950-15100 zone in coming sessions. Metals witnessing profit booking as it moved up fast and traders taking profits at higher levels. Next bullish looking sectors are Auto and Banking and Financials. Accumulate them in lower levels. very soon we see buying spree in these sectors. Regards Suryadev Bandari Research Analyst www.earningwave.com

Primary degree trend in NIfty is uptrend. Every Dip is a buying opportunity. Those who miss the move at 14400 levels, now rush to enter long positions. As long as nifty holds 14600-550 zone, upward move resumes towards resistance zone 15100-15200.  investors and traders prefer to take long positions in Equities rather than Futures and Options. Supports 14775-715. Resistance 15050-15200. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Side by Side White candle in Weekly charts suggesting that larger degree trend is now bullish. This is only this begining of upmove, a lot more upside is possible in coming days. Every dip is a buying opportunity. Close above 14600 is a good confirmation for bulls. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 NIfty formed Triangle pattern after testing 15050 yesterday. now that triangle pattern completed or about to complete. this can be low risk entry for fresh long positions.  Important support at 14650-14550 zone. once nifty moves above 14820 spot level, we more buying support from Bulls. Regard, Suryadev Bandari Research Analyst

 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