Skip to main content

Market in Bear Grip. Beware of Long positions.

Nifty achieved all my previous targets as mentioned in last update even exceeded.
Now, Market in the hands Bears. As nifty broken important psychological Bulls support 12000 and trading continuously below that support,( cmp 11943), next downward targets would be 11900-11880 zone.
Avoid building fresh long positions at this juncture as we can see more selloff in market.
Technical indiacators such as MACD-Below Zero line and RSI below 50 line indicating further weakness to be continue some more time.
Elliottwave pattern also suggesting that more pain ahead.
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