Impulsive downwave in Nifty temporarily halted.
Minor Bounce can be expected from 11000-11200 zone towards 11500-11600 in coming days.
Cover short sell positions and Short term traders can initiate fresh long positions on every dip.
Buy on Dip market.
Technical indicatorst to show Bullish Divergence formations.
Market in over sold and preparing for short covering rally.
Hence, avoid fresh short selling.
World markets too taking breath from sharp selloff.
For next coming few days, markets to trade in range bound.
Range is huge, so stoploss also at distance, i.e, risk is high. Hence, wait for nice dip and initiate longs at support zone. Book near resistance zone.
Resistance 11400-11550-11625.
Supports 11200-11100-11030.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com
Minor Bounce can be expected from 11000-11200 zone towards 11500-11600 in coming days.
Cover short sell positions and Short term traders can initiate fresh long positions on every dip.
Buy on Dip market.
Technical indicatorst to show Bullish Divergence formations.
Market in over sold and preparing for short covering rally.
Hence, avoid fresh short selling.
World markets too taking breath from sharp selloff.
For next coming few days, markets to trade in range bound.
Range is huge, so stoploss also at distance, i.e, risk is high. Hence, wait for nice dip and initiate longs at support zone. Book near resistance zone.
Resistance 11400-11550-11625.
Supports 11200-11100-11030.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com
