Earning Wave

Banknifty almost completed Sideways correction today around 44550 and turned up. Now it appears to be resume upward Journey tpwards 45700+. Regards, Suryadev Bandari Research Analyst.

Markets taking time to cooloff a bit. Likeky to take some correction from here. Close longs if any,  Retracement of previous rise likeky. Nifty cmp 19400, it can correct till 19150-19100 minimum. Regards, Suryadev Bandari Research Analyst

Nifty upmove hit pause button around 19370-420 range and done minor correction around 19340. Now it appears to be ready for bounce towards 19550-600. Regards, Suryadev Bandari Research Analyst

  #nifty50 cmp 19328. 19321 is critical resistance on closing basis. Up move can halt here for some cooloff. #banknifty cmp 45346. 45370 is critical resistance fo banknifty. Both indices can reverse or take pause. #investing #tradingview #stockmarkets #elliottwave #earningwave

 Nifty trading at 18870. Banknifty trading at 43950. Both trading at key resistance levels. Follow up buying is missing. Huge call writing visible at 44000 and 43900 strike in Banknifty . Huge call writing visible at 18900 in nifty. As weekly expiry today, we can expect big fluctuation with negative bias. Stay alert. Avoid Fresh longs until nifty cross abvoe 19000 and Banknifty above 44100. Regards, Suryadev Bandari Research Analyst.

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 Nifty cmp at 18650. Unless nifty close above 18700 spot, outlook remains Bearish. Double top formation around 18695 spot . Technically Negative Divergence formed in Daily t.f. signalling upward steam fizzle out any time soon. Price action must confirm this view by dip below 18530 spot. Crucial supports 18530-18450. Crucial resistance 18695-725. Regards, Suryadev Bandari Research Analyst