Skip to main content

Corrective Bounce nearing to end. Bears can take control on Market.

Bounce from 11614 to today's high 12244 appears like corrective wave pattern and in finishing stage.
It appears that Triangle or Double correction pattern.
Resistance placed at 12270 spot. On breaking down 12195 spot we will get confirmation of down trend resume towards 12100-12065 initially.
Hence, keep booking in long positions. Fresh short sell positions can initiate with strict stoploss above 12280 spot levels.
Technical indicators signalling for sharp correction ahead.
Trade with strict stoploss.
Trading range can be huge today.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com

Popular posts from this blog

#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    
Post a Comment
Read more

LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

Post a Comment
Read more

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
Post a Comment
Read more