Nifty trading near upper range of resistance 11700-11707. Will it reverse trend from here???

Nifty trading near its upper range of resistance near 11700-11707. Technically, nifty still in counter trend wave last leg. Hence, it can take U turn from current levels any time today. We get confirmation of trend reversal once nifty breaks and trades below11650 spot level. Next downside targets and supports are at 11610-11575.

Keep strict stoploss orders to long positions. As in general major trend reversal begins with 100-150 points sharp fall in a day. stay alert.

Resistance 11700-11707-11737.

Support 11610-11575-11535.

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

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

NIfty fall likely to take a pause.

Nifty banknifty both oversold and likely to take a pause. Close Above 25485 Bullish for nifty, Close Below 24800 Bearish. Close Above 52600 Bullish for Banknifty and Close Below 51190 Bearish. wait and watch mode now. Regards, Suryadev Bandari Research Analyst

Earning Wave

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