Skip to main content

Posts

Nifty trying to form a base for rally. Wait and watch till Budget 2022.

 Nifty cmp 17320. Bulls successfully absorbed selling pressure around 16830 and striked back. Now nifty strongly trading above 17000 psychological support level. Weekly close above 17340 would be a strong close for Bulls to rally after Budget event. Till then it can move in a range of 17340-17100. Markets awaiting for Union Budget 2022. Regards, Suryadev Bandari Research Analyst

One chart, significant open probabilities.

 Nifty cmp 17630. DAy low 17525. Single chart, explains itself. Bullish reversal pattern at Key support makes it significant. Keep strict stoploss below 17480.  Regards, Suryadev Bandari Research Analyst

Bulls can take a pause before further rally.

 Recent swing low 17180 to today's high 17827, it appears to be completed impulsive wave, hence, before resuming rally, Bulls likely to take a pause for couple of days. A-B-C correction pattern can begin any time from current levels, Buy on Dip mode. Major trend Bullish, Short term trend Bearish. Move below 17750 would trigger selling pressure. Lower time frame charts already formed Negative Divergence in Technical Indicators. Be alert on holding long positions. On lower side, 17550-17450 acts as support zone. Regards, Suryadev Bandari Research Analyst