Counter trend move turned into triangle pattern. Major down trend to resume from here.

Triangle formation in progress as part of counter trend move from 10800 to 11140 zone. Its in last leg of triangle pattern. Today or tomorrow major down trend to resume towards 10800 level from current levels.
11200 strong resistance for Nifty.
11000 psychological support.
10900 Technical support.
Avoid taking fresh long positions.
As far as possible reduce long exposure as any time from here down trend resumes.
Sell on Rise market.
Regards,
Suryadev Bandari
Research Analyst

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

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

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