Nifty reversing from previous high level. Possibly major trend reversal has begun.

Nifty tested 12038 today in opening but due to lack of follow up buying it fell nearly 100 points from day high. One close below 11840 would confirm major trend reversal.
Be cautious on holding long positions.
In Elliott Wave principle point of view, major correction can begin any time. Stay alert.
Regards,
Suryadrv Bandari
Research Analyst

Sent from my iPhone

Comments

LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

#nifty poised to make new all time high soon.

#nifty cmp 22597. #Bulls strongly holding key supports. 22350-440 zone. As long as nifty trades above this zone, its poised to make breakout all time high. Upside resistance trendline around 23110-23250 zone. Regards, Suryadev Bandari Research Analyst #tradingview #investing #stockmarkets #elliottwave #earningwave #suryadev

Stay alert. Market loosing bull grip. Prepare for selloff.

Nifty trading below 20dma 22560. First sign of weakness. more downside possible ahead. Reduce long positions. Next key levels 22060-21800. Regards, Suryadev Bandari Research analyst

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