Skip to main content

Minor pull back rally to 9400-9450 possible before fall.

Nifty trend reversed from 9890-9117 zone. From there, minor counter wave bounce has begun and in final push to 9350-9400 possible from current levels.
Flat pattern in progress.
Upper resistance at 9350-9400-9450.
On lower side, supports exist at 9100-9050.
Traders kindly note that this bounce would be counter trend in nature, hence its sustainability is susceptible and short life.
Therefore, short term traders can utilize this bounce for purely trading purpose only.
Keep strict stoploss below 9050 spot, if in any case, nifty breaks this critical support, no matter what, just exit long positions immediately.
Hence, short term traders can initiate long position here at 9230 spot level for target of 9350-9400 zone. and book profits in resistance zone mentioned above.
Selective Pharma and Metals can participate in this bounce. choose wisely.
Regards,
Suryadev Bandari
Research Analyst
www.earningwave.com


Comments

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    

LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

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