Earning Wave

 RBI hiked 25 basis points of interest rates. It has changed its stance to "Calibrated tightening" from 'neutral'. It means, there is open chances for  further rate hikes depending on updated data or status quo, but no chance for rate cuts. This makes negative impact on our markets. Our market trend remain bearish. stay alert. keep strict stoploss. avoid fresh investments until we get clear resistance breakout above 23000. Recent lows likely to breakdown soon. regards,  Suryadev Bandari Research Analyst, SEBI registered 

 Nifty almost completed minor pullback in abc counter trend structure. Now its again get selling pressure below 22680 spot level towards 22300-22000 zone positionally. stay alert. Key resistance zone at 22800-23000 zone. regards, suryadev bandari research analyst  

 Nifty cmp 23485. Bulls attempt failed at 23567 and again fall back to day low. stay alert.  More downside possible from here. Next key supports at 23300-150 zone in coming sessions. Keep strict stoploss to long positions. regards, Suryadev Bandari Research Analyst  

 Nifty formed inverted hammer/shooting star formation in end of day charts today.  this kind of formation at key resistance zone indicating that there could be more downside move ahead in coming sessions. Hence, keep strict stoploss. Next key support level to be watched on closing basis is at 23950. Close below this level gives more strength to Bears. Keep strict stoploss. regards, suryadev bandari research analyst  

 Nifty cmp 24110.  Rising Wedge pattern visible. 23650 looks possible in coming days. stay alert. regards, suryadev bandari research analyst

 Nifty Bulls again failed to sustain above 23750 spot level and slipped below 23600. In daily time frame, Bearish reversal candle formed . It's time to stay alert as bigger selloff can trigger below 23555 spot level from tomorrow. Keep strict stoploss. regards, Suryadev Bandari Research Analyst