Another leg of Selloff ahead???

Nifty almost completed Running Flat pattern as part of counter trend move.
Now its vulnerable to correction as part of Impulsive down wave towards previous lows.
Be alert about long positions.
On Friday last leg of flat pattern almost completed and closed below crucial resistance level 11155-11200 zone. As long as nifty trades below this resistance, Trend deemed to be bearish.
Impulsive down moves often furious fall anywhere between 150-200 points dip in a single day.
Keep strict stoploss to long positions.
Friday's GDP DATA showed growth at 6 years low. Conversely, Gold trading at 6 years Highs.
Both data indicating that Equity markets to face rough road ahead.
Resistance 11155-11200.
Crucial support 10900.
Next level to watch. 10640.
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

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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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