Skip to main content

Bears stepped in and Top reversal pattern formed. Be alert.

 Yesterday nifty and sensex both formed Bearish Belt hold like pattern at higher levels. 

Indicating that Bulls possibly exhausted at current levels (cmp 12845). High made Yesterday 12934.

Now, Impulsive move has ended, we can expect corrective pattern from hereon.

Next important levels to watch in nifty are 12750. and 12550. 

Technically, negative divergences formed in almost all major degree charts.

Hence, its time to book profits in long positions, not to initiate fresh long positions.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com




Labels:

Comments

Post a Comment

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