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EARNING WAVE

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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 18th December, 2017

High Volatility due to Election results

Nifty exactly closed below the resistance line as shown in chart. Today high volatility expecting due to Election result counting. We can witness huge fluctuations in market. Technically, Sell on rise market. Key level on downside is 10140 spot level, below this level nifty likely to heading towards 10000. ON the upside 10348-10460 is resistance zone. Banknifty technically weak. Market discounted exit poll's BJP winning chances in election, Negative surprise can drag market down to below 10000. Investors and traders must be alert today.
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Nifty update for 15th December, 2017

Sell on every rally

Yesterday, Nifty tested 10142 spot and from there bounced higher to 10252. Technically major trend is still in downside but in short term we likely to see high volatility in market. Crucial resistance at 10328-10345. Nifty faces heavy resistance here. Every bounce faces selling pressure. Key point to note that, US markets appears to completed upmove and major trend can reverse to downside from current levels. Obviously it leads World Markets to downside. Traders better to prepare for huge volatility as VIX rised to 16.40. In Bear market sharp fall and sharp rise are common characteristics. Positional Downside targets remain intact at 10056-9945. Resistance around 10328-10345 spot. .
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Nifty update for 14th December, 2017

As mentioned in last update, Nifty closed gap area between 10197-10174 yesterday. Bears utilizing every bounce for short selling. I am reiterating this from past few days. Same thing happend yesterday too. Today, watch 10170 spot, staying below this level means nifty heading towards our projected levels 10119-10050. Recent high of 10326 acts as medium term top. As per my last update short position intiated in nifty below 10216 spot for 10121-10060 spot levels. Short traders can cover shorts at 10121 spot. Banknifty showing more weakness than nifty. Nifty Resistance around 10328-10345 spot. METALS, REALTY AND MIDCAP50 WEAK TODAY.
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Nifty update for 13th December, 2017

From past two days i suggested to build short positions in nifty with stoploss of 10328-10345 spot levels, for lower targets of 10121-10030. Nifty exactly reversed to lower yesterday. Evening Star formation formed in Nifty and Banknifty indices which is confirmed top reversal formation. This fall to continue further today also. Next immediate levels to watch are 10197-10174 gap area. Close below this gap area means, 10326 acts as medium term top and nifty again going to test recent low of 10036. Banknifty formed Evening Doji Star, which is more powerful Bearish reversal pattern than Nifty. Today, traders can initiate fresh short positions below 10216 spot for 10121-10060-10036 targets. Resistance around 10328-10345 spot. METALS, REALTY AND MIDCAP50 TOO TO TRADE WEAK TODAY.
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Nifty update for 12th December, 2017

Nifty and Bank Nifty both almost completed counter trend moves.

Bulls be alert!
Nifty and Banknifty both indices almost completed counter trend moves. From here, any time both indices can face huge selling pressure and resume downtrend. Next targets are recent lows of 10121-10030 and 24800 respectively. Utilize this bouce to build short positions. Resistance at 10328-10345.

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Nifty update for 11th December, 2017

As mentioned in last update, Nifty and Banknifty both indices almost completed counter trend moves. From here, any time both indices can face huge selling pressure and resume downtrend. On breaking 10216 spot level, traders can start build short positions in Nifty for lower targets 10121-10060-10036. Resistance around 10328-10345 spot. Utilize this bounce to exit long positions and build short positions.METALS AND MIDCAP50 TOO TO TRADE WEAK TODAY.
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Nifty update for 8th December, 2017

Nifty and Bank Nifty both almost completed counter trend moves.

Bulls be alert!
Nifty and Banknifty both indices almost completed counter trend moves. From here, any time both indices can face huge selling pressure and resume downtrend. Next targets are recent lows of 10030 and 24800 respectively. Utilize this bouce to build short positions.

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Nifty Mid-day update :7th December, 2017

Nifty achieved my 10151 target in nifty today. Banknifty not bounced as expected. Today, nifty must close above 10147 spot. Incase, it failed to close above this level, then fresh selloff can be seen towards 10000-9700. As it achieved minimum retracement level, it can resume impulsive downtrend again towards sub 10000 levels. Utilize this bounce to exit long positions and Build short positions. Maximum upside for nifty is 10261-10275.

Nifty update for 6th December, 2017

Will 10000 level holds??? or Breaks 10000 and moves more downside???

Yesterday, nifty closed below the low of the DOJI. Its the first warning to bulls that there is more downside ahead. Yesterday I was expected minor counter wave to 10151-10181 levels but Nifty broken 10069 and marked new day low at 10033.
In hourly charts, there is positive divergence which indicating that minor bounce is possible to 10151-10181 range. TRADERS CAN TAKE LONGS WITH YESTERDAY'S LOW AS STOPLOSS FOR MINOR BOUNCE. ON BREAKING YESTERDAY'S LOW, CLOSE LONG POSITIONS. In daily charts, no such divergence hence, keep watch on 10033-10000 zone as last hope for bulls. Below which we can expect much lower levels in nifty in days ahead. Trading below 10000 level means Bears got fresh strength to drag nifty much lower levels. Below 10000 level, nifty finds minor support at 9688-9650. Banknifty too in similar pattern, 24800 acts as key support for banknifty, trading below this level means bears can drag this index to 24250 in coming sessions. METALS, PHARMA, MIDCAP50 TOO BEARISH. Trading on last support line. Breaking yesterday's low means these sectors too heading much lowerside in coming sessions. Hence, BULLS BE ALERT. MAJOR TREND TURNED DOWN. ANY BOUNCE CAN BE SHORT LIVED AND UTILIZE EVERY RISE TO BUILD POSITIONAL SHORT POSITTIONS.

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Nifty Mid-day update :6th December, 2017

Nifty almost achieved my 10045 target in nifty today. today low 10051. One leg of selloff from 10400 to 10051 done. Now, minor counter wave as mentioned in today's morning update, begins from here towards 10151-10181. Kindly remember that, this counter wave bounce may be short life of couple of days. Use this bounce to exit long positions.

Nifty update for 6th December, 2017

IS RBI CREDIT POLICY FAVORS BULLS?? OR BEARS??

Yesterday, nifty formed DOJI pattern. Indecision among bulls and bears as today important event of RBI CREDIT POLICY. Will it favors bulls or Bears?
Technically, nifty in minor counter wave pattern which can give max upside to 10155-10175. Yesterday high was 10145, so there is one more attempt to 10155-10175 is possible. This is only one possibility, not necessary. Technically, nifty heading towards 9945 and lower. Hence, utilize every bounce to build short positions. Banknifty can bounce maximum to 25271, from there it may face selling pressure again to sub 25000 levels again. Technically Bears have upperhand over Bulls.

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ALERT!!! BABY "BEAR" BORN IN NIFTY

BULLS BE ALERT. BABY BEAR BORN IN NIFTY DAILY CHART. INVESTORS STAY ALERT ON holding long positions as Baby bear born in nifty and major large cap stocks. It indicates this ongoing fall to continue further on downside. Bulls may face difficulty in protecting 10000 levels. Bears driving the market now. Utilize every bounce to exit long positions and buildup short positions.

Nifty update for 5th December, 2017

Where is nifty heading towards???

Yesterday, fall in nifty halted temporarily at previous low 10095 level. Today, downside journey resumes again towards 10002-9945. Every minor Bounce is a short selling opportunity. Bears likely to test 10000 crucial level today. Are Bulls able to defend crucial level of 10000 today???. Technically, Bears have upper hand over Bulls. Banknifty index also broken down range. It can also witness more selling pressure today. Main trend turned down so utilize every bounce to build short positions for coming sessions. Midcap, Metals, Pharma indices Weak and likely to face selling pressure today.

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Nifty update for 4TH December, 2017

Friday, nifty faced selling pressure at 10271 and broken 10200 easily. Below 10200 level, bears dragged nifty down to 10110 and closed at 10121. Entire 15days bounce from 16th November is retraced fully in just two trading sessions by Bears. My target of 10140 achieved. Resistance at 10325-10345. Next downside targets 10024-10002-9945. From hereon Every Bounce is an opportunity to exit long positions. Minor bounce expecting around 10002-9948 levels. Short sellers can book profits between 10024-9948 range, as one minor pull back possible. Traders keep remember that minor bounce is a possibility only. Its not necessary. We need to watch market reaction at 10000 before taking any conclusive decision. Long term Investors can book profits as more downside possible in coming sessions. Short term traders can utilize every bounce for short selling. Banknifty index also broken down range. It can face huge selling pressure at current levels. Avoid taking fresh long positions in Banking stocks.

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Nifty update for 1st December, 2017

Finally, nifty faced selling pressure and achieved my targets 10261 and 10230. Nifty closed well below 8 days of rangebound level. Resistance at 10346-10395. Minor DEAD CAT BOUNCE possible till 10315-10328. From hereon Every Bounce is a selling opportunity. Investors can book profits as more downside possible in coming sessions. Short term traders can utilize every bounce for short selling. Downside targets for nifty are 10140-10094. Banknifty index also broken down range. It can also witness Deadcat bounce today. Main trend turned down so utilize every bounce to build short positions for coming sessions.

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Nifty update for 30-11-2017

As mentioned yesterday, nifty finally broken down range and closed at 10361. Finally nifty came out of 8 days sideways range and broken down so we can see heavy selling pressure today onward. Next downside targets for nifty are 10320/10260/10232. Resistance at 10424-10435.Banknifty index also broken down range. It can also witness further weakness today. IT, METAL AND MIDCAP50 indices are weak and face more selling pressure today. Short term traders can initiate short positions at 10350 spot level for targets 10261-10230. Stoploss for shorts can be placed at 10415 spot. Close below 10261 today may indicate further selling pressure in coming sessions.

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Nifty update for 29-11-2017

Nifty opened at 10386 and made day high at 10409.Selling pressure at day high dragged nifty to day low at 10355 and finally closed at 10370. In daily charts, nifty made bearish candle and favoring bears to breakdown the till 10261. On breaking down 10350 spot level, this correction drags nifty further downside to 10261-10230. Resistance at 10424-10435.Banknifty index also made bearish formation. It can also witness further weakness today. IT index, Pharma and Realty index weak today. Market still trading in range bound in wedge pattern. Nifty has to break this pattern and move down decisively towards 10261. On firm close above 10435 only nifty turns bullish in short term. Short term traders can initiate short positions below 10350 spot level for 10261-10230.

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Nifty update for 28-11-2017

Nifty opened lower at 10364 and made day high at 10405 and closed at 10399.Market still trading in range bound in wedge pattern. Nifty has to break this pattern and move down decisively towards 10261. Resistance at 10415-10425 and key support at 10320, breaking this support nifty head to 10261 first and 10230-10189 next. Wedge pattern is in upward slope, hence most probably breakout comes in form of downside. Negative divergences too confirming this kind of momentum. Long position holders maintain strict stoploss. Short term traders can initiate short positions below 10320 spot level for 10261-10230.

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Nifty update for Monday 27-11-2017

Nifty opened at 10366 and made day high at 10404 and closed at 10389.Can we take this as break out of range and move higher from here???? Technically speaking, decreasing Volume not supporting this as calling breakout. Bounce from recent low 10094 to 10404 with is backed with declining volume indicating that this bounce is short term and major down trend can resume anytime. More over, Market reaction at day high at 10404 not as it should be. Taking into all these technical points, there is possibility for downfall in market. First downside target 10320 and then 10260-10230-10189. Resistance at 10395-10414.Friday, S&P announced its stance on Rating on India as status Quo.Today, we may see its impact on Market.

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Nifty update for FRIDAY 24-November-2017

BLACK FRIDAY OR ANOTHER FLAT FRIDAY?

Nifty formed three Doji's in a row. Huge supply coming at higher levels (10365-10374) and demand coming at 10312-10308 level. This kind of range usually breaks out by gap up or gap down openings on either side. Any breakdown of 10300 triggers huge selloff today towards 10230 and 10189 levels. On the other side, any breakout above 10375 can take nifty further high to 10395-10410. Hourly charts still in favor of Bears. Resistance at 10365-10395 zone. Advance Decline ratio 21:29 favoring Bears. Banknifty once broken down range intraday but closed inside of range. Below 25622 banknifty can fall further to 25488 and 25275. Investors keep strict stoploss. Until decisive breakout happens, Avoid taking fresh long positions.

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Nifty update for 23-November-2017

Are Bulls lost Hope?

By seeing yesterday's pattern, we can say that Bulls lost Hope. Technically, Bulls lost chance to move upward. Another day of flat trade. Whole day traded below resistance zone. This is indicating that 10350-10365 zone is strong resistance for short term. From here, Nifty to head towards 10261-10248 zone first. Resistance at 10350-10365-10395 zone. Below 10315 spot, traders can initiate short positions with 10350 stoploss for lower targets 10248-10189. Advance Decline ratio 23:27 favoring Bears. METALS, REALTY, PHARMA SECTORS WEAK TODAY.Banknifty trading rangebound from past four days, today it likely to break this range downward and put pressure on Nifty. Investors keep strict stoploss. Avoid taking fresh long positions.

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Nifty update for 22-November-2017

Where is nifty heading?

As mentioned yesterday, Nifty traded below key resistance zone 10350-10365. Closed at 10326. technically nifty closed near opening price. This is indicating indecision between bulls and bears. Nifty formed "inverted hammer" or " shooting star" pattern at resistance level. This may result in bearish outcome in today's session. Yesterday's high and low plays key role in deciding next direction. Incase today Bulls succeed to close above yesterday's high (10357.60) then it can move further higher resistance towards 10395. On the downside, if bears succeed to close below yesterday's low 10315, then nifty declines further towards, 10262 and 10189. Resistance at 10350-10365-10395 zone. Below 10315 spot, short positions can be initiated with 10350 stoploss for lower targets 10189-10050. Hence watch 10357 and 10315 levels today for further direction.Bounce from 10095 to 10357 is in counter trend pattern, so MORE CHANCES FOR this counter trend move can end abruptly soon and downfall continues soon.

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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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Disclaimer

All the contents of this site are only for general informational or use. They do not constitute advice and should not be relied upon in making (or refraining from making) any decision. The recommendations are based on the theory of Technical Analysis and do not reflect the fundamental validity of the Scrip. Visitors to the site and clients do accept & understand that Trading in the equity markets both in the cash and derivatives format is a risky business. They may lose some or all of their capital. They understand that advisory services require proper money management and psychology. They are taking the services of Earningwave.com or Suryadev Bandari as an educational mechanism and they shall solely be responsible for all trading and investment decisions taken by them.

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