Nifty upside capped between 11900-12100. Possible Bull trap.

Market reacting to Exit Poll surveys and marked new High in Nifty at 11882 today.
On higher levels strong resistance between 11900-12100. India Vix still above 24.50 levels.
High volatile sessions possible till 23rd May until final counting results announcement.
Only risk appetite traders take short sell positions with strict stoploss levels at higher levels.
Risk averse traders better to stay in cash and wait for election results.
Nifty and Banknifty likely to move down towards yesterday's gap zone.
Overall structure looks like trapping Bulls. Bull trap. Avoid taking new long positions.
Use this bounce to exit from existing long positions.
Regards,
Suryadev Bandari
Research Analyst

Comments

#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

LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

Once again market turned bullish.

Nifty heading towards 25000+ levels Banknifty heading towards 54500-55000 levels. Buy on dip mode Key supports for nifty 24200-150 zone. Key supports for Banknifty 51750-500 zone. as long as above levels holds, market moves higher. Regards, Suryadev Bandari Research Analyst

Earning Wave

Search This Blog