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EARNING WAVE

converting information into profits

WHAT YOU GET HERE...

Trade recommendations based onTechnical Analysis and "The ELLIOTT WAVE PRINCIPLE" from SEBI Registered Research Analyst.

Technical Analysis is applied social psychology. It aims to recognize trends and changes in crowd behavior in order to make intelligent trading decisions. We believe that by recognizing current Chart pattern and identifying balance of power between bulls and bears, we can anticipate next direction. we can convert this information into profits with minimum amount of risk.

Nifty update for 21-November-2017

Nifty moved in completely range bound yesterday between 10261-10309 and closed below 10300 level. Pattern-wise counter trend move. Yesterday's candle indicating indecision among bulls and bears. Decisive move needed to break out this range for next direction. Pattern wise, nifty can drift to minimum 10226. As mentioned yesterday, close below 10246 level drags nifty further downside. Only close above 10350-10365 bulls may get active again. Hence, today's market action is key to next direction. Technically, market in favor of Bears. Close below 10246 today would confirm this. Today watch 10246 spot level, below this level nifty heads towards next key level 10189. Resistance at 10350-10365 zone. Below 10261, short positions can be initiated with 10350 stoploss for lower targets 10189-10050.

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Nifty update for 20-November-2017

Nifty completed 61.8% retracement around 10339 and Closed below 10292 as indicated on Friday. This is indicating that market in hurry to complete counter wave and preparing to resume downward journey again towards 10246 and 10189. Bank Nifty and other sectoral indices are in similar pattern. Bulls unable to cross 10350-10365 resistance on Friday, failed to utilize the gap up opening and closed below key support level of 10292. Clearly showing Bear grip on Bulls. Today watch 10246 spot level, below this level nifty heads towards next key level 10189. Nifty has gap between 10232-10268, Close below 10232 today fills the gap and this may be sign of bears grip over market and resume of downtrend. Resistance at 10350-10365 zone. supports 10246 and 10189. First sign of reversal may be filling the gap.Avoid fresh long positions.

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Nifty update for After gap up Open. 17-November-2017

Nifty completed 61.8% retracement around 10339 and Banknifty at the end of Wave E. Both indicating next direction towards downside. First sign of reversal may be filling the gap.

Nifty update for 17-November-2017

Nifty Opened with gap up and moved higher to 10230 before closing at 10214. Fresh shorts adviced for next lower targets 9970-9850 in coming sessions. As shown in chart, Nifty formed minor counter wave as wave 4 of 1. From here, it can move lower towards 10094 and then 9970. ON the upside Wave 1 low of 10267 would be first resistance. Today key level to watch on downside is 10094 recent low. breaking this low level means nifty resumed downfall and head towards 9970. Hence, 10267 and 10094 is the range to observe today. Other indices too in similar pattern.Its not at all a time to jump in for fresh long positions. Need to wait for clear signal.

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Nifty update Mid-day for 16-November-2017

Nifty in minor counter wave which has fulfilled at around 10200. Its giving good opportunity for short selling for next lower targets 9950-9850 coming sessions.

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Nifty update for 16-November-2017

Yesterday too Bears are agressive and nifty faced selling pressure on every minor bounce. Nifty broken important support level 10124 and closed below that. This is indicating that nifty heading towards next important support level 9969-9950. Bank Nifty too faced selling pressure on every time bulls tried to bounce but at the end of the day bears showed their strength. Still bank nifty to see more downside today. Watch 9969-9950 zone today. Those who followed my updates and shorted nifty at higher levels can book profit around 9969-9950 zone today. Investors still need to wait to initiate fresh longs. Downside is not over yet. From 9950 nifty can witness minor bounce for short period of time. Market not favoring for fresh long positions. Today, we may see more action in Banknifty index in down side pressure. Nifty in control of bears. AUTO, FMCG, PHARMA AND IT INDEX to continue weakness today also. Nifty may have entered into medium term correction. Resistance at 10250. Supports at 9970-9950. Avoid taking fresh long positions.

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Nifty update for 15-November-2017

As mentioned, nifty corrected from 10490 to 10175. What's next? Yesterday Bulls tried hard to take nifty above 10220 level but due to heavy selling pressure they failed and nifty fell to day low at our key level 10175. This fall continues till 10036-9970. That is the reason we keep on saying " Avoid fresh long positions" everyday. Today, market likely to witness huge selling pressure to our next downward targets 10036-9970. Traders can Utilize every bounce to short selling. Short sellers can cover shorts(Book profits) around 9970 spot level. Investors keep strict stoploss or book profits. Today, Banknifty index likely to face huge selling pressure and drag nifty lower. Nifty in control of bears. AUTO, FMCG, PHARMA AND IT INDEX to continue weakness today also. Nifty may have entered into medium term correction. Resistance at 10350. This is clearly Sell on Rise market and utilize every bounce to short selling for lower targets. Avoid taking fresh long positions.

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Nifty update for 14-November-2017

Finally nifty came out of 3days sideways range and closed at 10225. As mentioned earlier, close below 10220 indicates medium term trend reversal to downside. Yesterday low 10217. Majority of indices, Banknifty, Auto, energy, FMCG, METAL, PHARMA AND REALTY INDICES showed weakness. These indices likely to continue weakness today also. MIDCAP50 INDEX also likely to show its weakness today. Nifty advance decline ratio at 13:37 indicating bears upper hand over bulls. Yesterday's low was very important because its a trendline of previous peaks in nifty. Closing below it indicates breakout of 10175 was false breakout and prices to continue further downside. Next key support levels are 10125 and 10045. Resistance at 10350. This is clearly Sell on Rise market and utilize every bounce to short selling for lower targets. Avoid taking fresh long positions as downside risk is heavy at this point.

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Nifty update for 13-November-2017

Friday nifty moved in a sideways range as counter trend move. Witnessed huge volatility within range. Counter trend move almost completed and nifty may heading towards our next key level 10220 and 10180. close below 10220 would indicate medium term trend turned down. Advance decline ratio favoring bears. This is Sell on Rise market and utilize every bounce to short selling for lower targets. Major sectoral indices in bear grip. Midcap50 index likely to continue weakness today also. Trading below 10275 means nifty heading towards lower targets. Resistance at 10450. Next key supports 10220-10180. Avoid taking fresh long positions as downside risk is heavy at this point.

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Nifty update for 10-November-2017

Is correction over in Nifty? Not at all!

yesterday, Bulls failed to hold opening highs 10365 and slipped to day low at 10266 and closed at 10308. Is correction over yesterday? Not at all. Its a just a pause before storm. Nifty next downside target is at 10168. From hereon, Sell on Rise is only trading strategy for traders. Medium term Investors can book profits and re-enter at lower levels. World Markets too entering into sell mode. close below 10220 would indicate medium term trend turned down. Hence , keep watch 10220 level today. Banking, Auto, Pharma,Metals,Realty,Midcap50 indices are likely to continue weakness today also. Resistance at 10450. Next key supports 10220-10168.

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Nifty update for 9-November-2017

As mentioned yesterday, nifty short term trend reversed to downtrend. Nifty heading towards 10240-10182. By closing well below 10330, nifty indicating that bears gain control over bulls. Next key levels to watch are 10240-10207, close below 10207 can give us confirmation of medium term trend reversal. Hence, 10207 going to be crucial level to watch today. Utilize every bounce to profit booking and exit long positions. Fresh long positions not advisable at current levels. Short sellers can use every bounce for short selling. Banking, Auto, Pharma,Metals,Realty,Midcap50 indices are weak today. Investors protect long positions with stoploss. Sell on every rise is only strategy for traders now. Resistance at 10450. Next key supports 10240-10207.

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Nifty update for 8-November-2017

As expected nifty reversed from higher levels 10485 to lower and broken down much awaited crucial level 10400, marked day low at 10341. Nifty given clear signal of short term trend reversal by closing well below 10390 level. Banknifty too given short term trend reversal. Auto, Pharma,Metals,Realty,Midcap50 indices are weak today. Bears took control over nifty and likely to drag further downside towards 10240-10207. Majority of sectors participating in this fall. Sell on every rise is only strategy for traders now. Investors keep strict stoploss to long positions. Upmove from 9688 to 10490 appears to be ended yesterday. Profit booking advisable at this point. Avoid fresh long positons. Resistance at 10490. Next key supports 10240-10207.

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Nifty update for 7-November-2017

yesterday nifty tested low 10413 and from there moved up to day high at 10490. there Bears started selloff and brought nifty down to 10429 finally closed flat at 10451. Advance Declines shares of nifty stood at 19:31 indicating selling pressure to continue further today. As mentioning from past few days, nifty need to close below 10400 spot level to get clear confirmation of trend reversal. Banknifty showed weakness yesterday that weakness to continue today also. Multiple resistances existed between 10480-10550.As shown in chart, nifty closed outside of channel indicating downside risk is heavy. Next immediate downward target is 10320. Avoid taking fresh long positions.

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Nifty update for 6-November-2017

Friday nifty formed 'Hanging man' pattern and closed on caution note. Giving warning note to bulls that ongoing upmove from 9688 to 10461 likely to end soon. Today, nifty must close above 10460 to move upward other wise, any close below 10400 may open gates for correction in market. Hence, today mostly tug of war between bulls and bears may happen for 10440-10400 zone. On the upside, cluster of resistances existed in the range of 10480-10550. Hence, upside is very limited. Downside risk is heavy.Traders need to be alert on breaking 10400 spot. below that next support at 10320. Friday's trading pattern favoring bears. Strong close below 10400 only gives clear cut confirmation of short term trend reversal. As mentioned earlier, technical indicators not supporting this bounce. That's why traders need to be stay alert.Market has given positive surprises till now, from today onward be ready to get negative surprises. IT sector, Metal and Midcap index showing weakness.

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Nifty update for 3-November-2017

Yesterday, nifty attempted to cross 10450 level but could not close above it. Closing near lower level indicating that traders interested in profit booking at higher levels. Today Bulls need to protect 10390 level to keep this bounce safe otherwise breaking this level means immediate threat to up move. Traders need to be alert on breaking 10390 spot.Yesterday's trading pattern favoring bears. Strong close below 10390 only gives clear cut confirmation of short term trend reversal. Till then watch 10450-10390 levels to get clues to next direction. As mentioned earlier, technical indicators not supporting this bounce. That's why traders need to be stay alert. Banknifty likely to face selling pressure today. Metal and Auto sector showing weakness.

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Nifty update for 2-November-2017

Yesterday, nifty opened gap up and protected lower support. After opening, spent whole day in range of 10420-10450 range. At this point we have two options open for nifty regarding next direction. one is, Staying above 10450 level means heading to next higher targets 10480-10520 and second one, staying below 10390 means heading towards 10320 again and then 10240. Hence, today need to watch nifty levels 10450 and 10390 carefully. Main point is, price making higher highs and technical indicators making lower highs this is forming negative divergence. Hence, i am not trusting this bounce to stay up more time. Prices follows indicators sooner or later. This bounce may not be sustainable, hence not suggesting any buy recommendation.Today Banknifty weekly settlement so expecting volatility in banking stocks.

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Nifty update for 1st-November-2017

Yesterday, Bulls tried hard to take nifty above 10360 level but due to selling pressure bulls failed and finally it closed at 10335. As it is key level, tug-of-war happen between bulls and bears for 10335 level. Finally Bears won the fight and nifty closed below Channel support line. Nifty came out of wedge pattern and given short term trend reversal signal. Next targets for downside are 10240-10230. 10200 level can be major trend deciding level. On the upside, resistance remain at 10380-10400. Only Axisbank supported Banknifty yesterday. Today, Banknifty too can reverse to downside. Metal index and Auto index are weak today. Midcap index halted upmove it may begin downside fall today. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 31-October-2017

Whole day nifty traded in tight range 20 points and closed at 10363. Today, key level to watch is 10330 spot level, on breaking this key level, Nifty turns bearish and comes out of support trendline which is formed from 9687. Below 10330 spot, next support at 10240. Resistance zone at 10380-10400. Technically, nifty and Bank nifty trading on edge of supporting trend line. On breaching this supporting trendline, we may see significant fall in both indices. Nifty need to breakout 10400-10330 range to take decisive trade. On breaking 24900 spot, banknifty may put pressure on Nifty towards next key levels 10240-10200. 10200 level can be major trend deciding level. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 30-October-2017

Friday nifty faced selling pressure and traded in range of 10366-10311. Bulls tried hard to take nifty above 10355 but every attempt failed due to selling pressure. Closed near our key level 10320. Today, key level to watch is 10300 spot level, on breaking this key level, Nifty turns bearish and comes out of support trendline which is formed from 9687. Below 10300 spot, one may short sell nifty for targets of 10240-10200 spot levels with stoploss at 10370 spot. Today Banknifty, IT INDEX, METAL INDEX, REALTY INDEX, FMCG INDEX and MIDCAP50 INDEX are bearish. Most of selling pressure may be seen in midcap sector. Bank nifty may put pressure on Nifty towards next key levels 10240-10200.Today's resistance zone at 10380-10400. 10200 level can be trend deciding level. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 27-October-2017

Nifty took support at our key level 10270 and bounced to day high at 10355. Banknifty still below its key resistance level. Except PSU BANK INDEX , Energy and Metal Index other indices showing weakness and can face selling pressure at current levels. Today November series begining, need to watch market reaction today to get clarity on next direction. Today's resistance zone at 10380-10400 and key support level 10320. Below this level next key levels 10270 and 10240. Below 10200 spot level, we can get confirmation of trend reversal. Nifty currently trading at very sensitive zone so any selling pressure can reverse the trend to downward. Hence, 10200 level can be trend deciding level. Today Auto Sector, FMCG, IT INDEX AND BANKNIFTY indices weak and can face selling pressure.Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 26-October-2017

Yesterday nifty opened huge gap up on back of Boost of Finance Minister announcement. PSU BANK index benefited among other sectoral indices. Banknifty too opened huge gap up but respected previous resistance 25177 and stayed below that. Declining stocks are more than advancing stocks. This indicating that most of traders preferred profit booking and this is not good sign to market at higher levels. As today fno settlement, huge volatility possible. Nifty key support level to watch 10270 below this we can see 10220 and 10104. Resistance at 10326-370. Immediately may not move up to breakout this resistance. Investors likely to prefer profit booking today. Bank Nifty too likely to face profit booking today. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 25-October-2017

Whole day Nifty moved in range bound between 10181-10237. Witnessed profit booking on every time it touched higher levels. This is indicating that investors interested to profit booking at higher levels. As expected IT index witnessed selling pressure and fell more than 1% by 113 points. Now coming to Recapitalisation scheme to Public Sector Banks, NIFTY PSU BANK INDEX rose above 3.7% whereas Banknifty Index up by only 0.55% main reason is share of PSU banks in Banknifty index is up to 11% weightage. Except PSU banks, other private banks witnessed profit booking. News of Recapitalisation Scheme already Discounted in Market hence need to wait and watch Market reaction today. NSE PSU BANK INDEX can face resistance around 3144-3240 range. It is also in Bear grip, any bounce may be for short term only. Technically, Bulls have no strength hence any bounce in market opening may be likely to face profit booking. Regarding INFY results, INFY results not very impressive and cut in 2018 growth guidance may be big negative for market and stock likely to face selling pressure today. BankNifty completed 38.2% retracement at 24267 it can fall to below 24000 any time. Going forward, Nifty IT index likely to put pressure on Nifty downwards. Nifty Resistance at 10251-10287 and support at 10120. Watch nifty 10120 spot level, on breaking we may see 10050 and 10000. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 24-October-2017

Yesterday Nifty opened gap up and moved above 10200 level but as we indicated earlier faced profit booking and corrected to our mentioned level 10125 there bulls tried to hold nifty by buying but failed to take it above 10200 level. This is clearly indicating weakness in Bulls and Bear grip on market. Weakness in Banknifty too helped bears to close nifty below 10200 level. Going forward, Nifty IT index too likely to put pressure on Nifty downwards. IT index is in focus due to INFY results today. Both Bank Nifty and IT index together may put peer pressure on Nifty on downward direction. Watch nifty 10104 spot level, on breaking we may see 10050 and 10000. Resistance at 10251. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions.

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Nifty update for 23-October-2017

Finally nifty took u turn and reversed lower on Muhurat Trading day. This was expected from past few days. That's why keep warning our viewers to avoid fresh buying and indicated to book profits. Exactly happened as per forecast, Banknifty dragged nifty down to 10125 on Muhurat trading day. Technically nifty entered into down trend and heading towards 10104 and 9970. Major sectoral indices participated in this fall on Muhurat trading. Nifty has gap between 10125-10104. Now heading towards this gap area to fill. 10125 tested on Muhurat trading next key level to watch 10104 lower gap level, once close below this level, Bears get more strength and drag nifty still lower to 9970-9950 zone. Resistance at 10251. Sell on Every rise is best trading strategy. Avoid fresh Buying and Keep booking profits in long positions. Bank Nifty more bearish than Nifty , may put pressure on nifty on downside.

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Nifty update for 19-October-2017

First of all, Happy Diwali wishes to everyone. Yesterday, nifty opened with negative tone and bounced from 10176 to to 10235 but failed to sustain to higher level closed flat. we can observe past few days price pattern indicating profit booking at higher levels and preparing to reverse lower. Today in Muhurat trading, nifty can move between 10170-10253 range. Bank Nifty already reversed to downside. Its pressuring nifty on downside. Keep booking profits and avoid fresh long positions. As we expecting from past few days, there is more chances to begin top reversal from today onward. Be cautious. Keep strict stoploss orders to long positions. Happy Diwali.

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Nifty update for 18-October-2017

As expected, nifty faced profit booking at higher level and closed flat. Whole day traded in tight range of 10213-10251. This is indicating traders reducing risk by profit booking and maintaining cautious approach. As today is last trading day for this week, today we may see huge volatility. Nifty may trade between 10281-10191 with negative bias. Investors be cautious as indices marked all time high and prone to top reversal any time. keep strict stoploss order to long positions. Market facing profit booking at every bounce. Technically there are more chances to market reverse lower from tomorrow's Muhurat Trading. Bank Nifty weekly settlement today, hence, banknifty may see huge volatility and it may impact on nifty. Be cautious. Protecting capital is more important. Happy Diwali wishes to everyone.

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Nifty update for 17-October-2017

Yesterday, Nifty opened higher but witnessed some selling pressure at 10240 level and corrected to 10175, bulls tried to support at lower levels but failed to cross day high before closing. This is indicating loss of upward momentum at current levels. For today, support placed at 10165. Today, Market likely to face some profit booking and move sideways range between 10100-10280. As a rule of thumb, nifty need to close above 10200 for 3 days to confirm breakout. Incase failed to do so, we can take it as false breakout and prices move lower again. Hence, today and tomorrow we need to wait and watch market reaction at higher level. Bank Nifty laggard compare to nifty, it can put some pressure on Nifty. Fresh long positions not advisable at this level.

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Nifty update for 16-October-2017

Friday, Nifty bounced and marked triple top formation at around 10191.As mentioned in last update, Nifty at crucial point now. Resistance at 10201-10250. Market to move sideways range between 10100-10201 till This Diwali. Upside is very limited hence, fresh long positions not advisable at current levels. Every bounce likey to face selling pressure. Major reversal can expect after this Diwali. Investors and traders may likely to book profits in long positions around 10200-10250 zone.Resistance at 10201-10250 and support at 10100-10000. Investors must use strict stoploss orders to long positions. Major technical Indicators showing negative divergence hence, after this diwali we can expect huge selling pressure. Till then stock specific momentum can see.

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Nifty update for 13-October-2017

Yesterday Nifty bounced again crossed 10067 and marked day high at 10103. Even though, we can not say that nifty to move upward from here. Nifty at crucial point now. Here, Bulls and Bears in equilibrium and underlying strength neutralised. We have to see who would have upperhand--whether bulls or bears. Technically bulls not having enough strength which require to break all time high level. That's why fresh long positions not advisable at current levels. Every bounce likey to face selling pressure. Resistance inched up to 10135-10200. Any selling pressure can trigger again sharp fall to 9980 which may confirm final trend reversal. Hence, avoid fresh long positions as upside is very limited. Wait for breakdown of 9980 level to short sell nifty for downside targets 9880-9775. Weekly closing level is important to know whether market reverses from here or may attempt to make tripple top. Weekly close below 10000 level may confirm reversal.

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Nifty update for 12-October-2017

As expected, Nifty faced huge selling pressure at 10050-10067 and sharply reversed lower. Yesterday our key level was 9950 and nifty tested 9956 from day high. As we mentioned in last two days updates, nifty finally made top reversal formation for short term. Bears active again to drag nifty lower. Today's key level to watch 9880. Going forward, every bounce likely to face selling pressure. Traders be cautious, long positions must have stoploss orders. 10067 acts as stiff resistance. Next key support levels below 9880 is 9775.Key short term indicators are in sell mode. Avoid making fresh long positions.

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Nifty update for 11-October-2017

Yesterday Nifty opened higher and tested 10037 and closed at 10017. Whole day moved flat and failed to close near day high this is clearly indicating that lack of follow up buying at higher levels. Underlying technicals not supporting to move upward. Any bounce may face selling pressure from hereon. Next resistance zone 10037-10057. On breaking 9950 level Bears get active again to drag nifty lower.Hence, today key level is 9950. Nifty formed double doji pattern. this pattern is a warning signal to bulls. Next key support levels to watch 9880 and 9775.Key short term indicators are in sell mode indicating Bears likely to get strengthen. Negative divergences in indicators may drag prices lower.

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Nifty update for 10-October-2017

Today Nifty opened higher and tested 10000 and made day high at 10015. Bulls exhausted at higher levels and Selling pressure emerged above 10000 that dragged nifty below 10000 and closed at 9988. Gradually Bulls strength reduced hence formed Doji candle at higher level giving warning signal to Bulls Be alert. This doji candle indicating indecision among traders. In other words, equilibrium among bulls and bears. Going forward, bears need to over power bulls in order to put pressure on nifty. 9927 spot level must break down to get first confirmation of short term top reversal. Next key support levels to watch 9880 and 9775.Key short term indicators are in sell mode indicating Bears likely to get strengthen. Negative divergences in indicators would drag prices lower.

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Nifty update for 09-October-2017

Nifty almost completed counter trend move from 9688 to 9989. 61.8% retracement has done. Nifty next resistance at 10065. Going forward, bears again strikes from here and drive nifty lower towards recent lows. First confirmation we get on breaking 9880 spot level. 9775 is next level to watch. RBI credit Policy and GST MEET events done. Status Quo decision by MPC unable to cheer market participants. GST MEET outcome seems not encouraging to market. Bank Nifty unable to cross 38.2% retracement, from now onward banknifty puts pressure on Nifty on downside. Bulls to face bear pressure from hereon. Negative divergences in indicators would drag prices lower.

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Nifty update for 04-October-2017

#NIFTY #earningwave.com Upward target from 9700 to 9920 almost done today. Nifty can test maximum 9949 spot on upside. Better to book profits in long positions and short nifty for 9750. stoploss for shorts would be above 9970 spot level.

Nifty update for 03-October-2017

Nifty exactly moved as per my previous forecast, tested 9688 my range was 9750-9700. Again bounced from there as per my forecast. For the short term 9688 level protected. Now as mentioned in ealier forecast, nifty heading towards 9920-9950 zone again and from there selling pressure likely. This bounce is counter trend nature hence it has short life span. Bears succeeded in bringing nifty down from 10150 to 9688 now taking rest. Bulls succeeded in protecting 9685 support zone for the short term.

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Nifty update for 28-September-2017

#nifty cmp 9700. Nifty touched bottom as per forecast, 9685 support holds this time. Bounce to 9885-9925 due from here.

Nifty update for 26-September-2017

As mentioned earlier,Bears succeeded to bring nifty below 9900 level today and tested 9816 before closing at 9872. Tomorrow nifty to test 9750-9735 level and can start bounce from there towards 9900-9950 zone. Short positions can be covered around 9750 spot and can go long for 9900-9950 with strict stoploss below 9685 spot for trading purpose.Major trend turned down and any bounce coming from 9750 to 9950 can be short lived.

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Nifty update 25-September-2017

Bulls failed to push nifty upto 10250 resistance level due to bear pressure and faced selloff. Four consecutive sell off forced indices and majority of stocks into sell mode. As mentioned earlier, downtrend developing. Bulls failed to defend crucial support@10000. Bears succeeded to bring nifty below 10000 level easily on Friday closed at 9964.As mentioned in last update, negative divergence in indicators dragged nifty lower. Now nifty heading towards 9750-9700.Short sellers can short nifty with strict stoploss at 10100 spot for target of 9750.

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Nifty update 19-September-2017

Nifty Surpassed 10138 and closed higher at 10153. Made high 10171, faced selling pressure and finally closed at 10153. Main point to be noted here that in price perspective nifty not showing any reversal formation yet. In technical indicators, Nifty forming negative divergences, hence we can conclude that current bounce can be fizzle out soon not expecting to hold for long time. Usually prices follows indicators hence it's not wise to build fresh investments. For trading purpose can go long nifty for 10235 with strict stoploss at 10000. In any case, if this support breaks, then unwind long positions in expectation of bigger fall.

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Nifty update 18-September-2017

Nifty cmp 10085. Nifty tested 10132 but failed to cross 10138 previous top. Bounce from 9685 to 10132 lacking clear direction. Bears took 8 trading days to correct nifty from 10138-9685. Bulls took 22 trading days to bounce from 9685-10132. This made DOUBLE TOP around 10138. Next crucial level from here again comes to 9685. Bulls lacking clear conviction to move upward. Day by day bulls lossing steam which need to increase to move upward otherwise, bears ready to take control.Now nifty heading towards 9865. Below 9865 only bears get strength to push nifty downward. Technical Indicators formed negative divergence clearly indicating that this bounce not going to hold and faces correction any time soon.This bounce giving good perfect short selling opportunity for traders those who are interested to short. Stoploss or point of invalidation point for short selling is at 10201 spot levels for downward targets 9865-9685 positionally.

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Nifty update 05-September-2017

Nifty cmp 9945. Nifty false breakout 9970 spot as mentioned in last update. Bulls exhausted at current levels. To move upward, Bulls need to get more strength. Above 10050 only bulls get strength. Now nifty heading towards 9835-9820, Below 9820 only bears get strength to push nifty downward. This bounce giving good perfect short selling opportunity for traders those who are interested to short. Stoploss or point of invalidation point for short selling is at 9996-10000 spot levels for downward targets 9702-9685 positionally.

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Nifty update 30-August-2017

Nifty cmp 9901. Yesterday, nifty broken 9800 level and today bounced with light volume. this is indicating that not many traders are participating in this bounce, sooner this bounce will fade away. This bounce giving good perfect short selling opportunity for traders those who are interested to short. Stoploss or point of invalidation point for short selling is at 9970 spot levels for downward targets 9702-9685 positionally.

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Nifty update 22-August-2017

Nifty cmp 9783.As mentioned earlier, Nifty gave confirmation of Wave 3 down by breaking 9875 spot, and now wave 3 is extending lower.Now watch 9685 first level to achieve and after that next level to watch 9540-9523. From hereon, Every rise is a selling/shorting opportunity. 9950 spot is stoploss for short positions.

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Nifty update 18-August-2017

Nifty cmp 9843.As forecasted yesterday, Nifty gave confirmation of Wave 3 down by breaking 9875 spot, and now trading at 9843.Now watch 9685 first level to achieve and after that next level to watch 9540-9523. Yesterday, nifty respected 9988 stoploss level and reversed at 9947.

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Nifty update 17-August-2017

Nifty cmp 9910.by looking at latest price pattern, alternatively, wave 1 completed at 9685 and bounce from there to 9924 is treating as wave 2. As per this view, Wave 3 to begin from here and take nifty lower than 9540 levels soon. 9988 spot level is acts as stoploss or point of invalidation.

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Bulls support at 9540-9523.

Nifty update 16-August-2017

Nifty cmp 9873.Wave 'iv' retraced almost 50% of wave iii. 50% retracement at 9886.

wave iv formed as a-b-c zigzag pattern, according to this, Wave V about to begin towards 9540-9523.
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Bulls support at 9540-9523.

Nifty update 15-August-2017

Wave 'iv' in progress. Nifty to move range bound between 9840-9685 for couple of days.

wave 'a' almost completed on Friday, Wave 'b' down to 9700-9685 and wave 'c' are due as wave iv.
Wave 'v' to take nifty to 9540 level.

Bulls support at 9540-9523.

Nifty update for 14-August-2017

Nifty next downside levels to watch 9648-9540.

Nifty likely to test 9648/9540 level before seeing any bounce. Wave iii-in-progress.

Bulls support at 9540-9523.

nifty

Nifty update for 11-August-2017

Nifty achieved all my targets right from 10100 to 9775. Whats next in store??

Major wave has turned down. Wave iii-in-progress.

Nifty heading towards 9712-9702.

nifty

Update: 10-08-2017
Time:01:37pm.
Nifty cmp 9853. Nifty achieved my targets 9950-9935 zone and broke down that level.Major trend has changed to Downward.
As mentioned in last update, next target zone 9792-9775.


nifty
nifty

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