Earning Wave

As per the latest data update, Entire fall from 15430 to today's low 14550 is corrective pattern only. Today Nifty showing bullish divergence in indicators suggesting that corrective pattern ended and trend reversed to upward again.  Buy on Dips . Avoid fresh short sell.  Cover shorts, if any. Build long positions. Regards, Suryadev Bandari Research Analyst.

 As expected in last update, Nifty took support around 14700 and Impulsive upmove has begun. cmp 15160. First hurdle to cross 15170.  Above 15170, massive short covering lifts nifty more higher levels towards 2nd hurdle 15340. Regards, Suryadev Bandari Research Analyst

Wave 3 bounce is due in nifty. move above 15170 would confirm it.

 

As expected in last update, Nifty moved upward from 15220 to 15400 zone  From 15430 level, minor corrective pattern has begun and it completed yesterday at 15170. Double correction pattern, zigzag and Flat pattern.  Moreover, Nifty tested lower gap between 15245 to 15185 zone. This gap held as crucial support on closing basis. Now Nifty heading towards 15450-15500 zone. Major trend up. Initiate fresh long positions for higher levels 15500+. Keep stoploss at 15040 for long positions. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Nifty has two possible scenarios open as of now. impulsive wave has begun from 13600 is unfolding in larger degree in which, i). Minor corrective wave done from 15257 to 14978. Now next leg of rally started from 14978 and heading for 15400-15500 zone. ii). Minor corrective wave still under progress and Nifty can retest 14978 -15000 zone again and from there bounce back to 15400.  Levels to watch for clear signal for trend. Watch 15257 breakout for resume of uptrend towards 15400-15500. Watch 14978 on lower side to resume of corrective wave which can restest anywhere between 14850 to 14550 zone. Hence watch for range breakout and trade accordingly. Regards, Suryadev Bandari Research Analyst. www.earningwave.com

 Nifty achieved our projected target range 15077-15265.  High made 15257 and took reversal from there yesterday. Now its time to test support zone before making another upside attempt. Hence, Book profits in long positions once, as there is also one possibility for major trend reversal( not confirmed yet). keep booking profits wherever possible. Next support zone is at 14860-14680 zone. Regards, Suryadev Bandari Research Analyst

Nifty taking a pause at current levels. Minor profit booking possible . Hence book atleast partial profits in long positions. Regards,  Suryadev bandari

 Bulls are in full Josh. Broad indices participating in current rally so this rally to continue further.  Buy On Dips market.  Current market providing opportunities for both Bulls and Bears. Shorting in this kind of market needs expertise so normal traders avoid shorting and Buy on Every dip to participate in rally. Majority of sectors completed corrective pattern and begun fresh upmove. Be stock specific in entering trades.  Metals, Pharma, Banking stocks looking bullish. Nifty has begun its fresh upmove from Budeget day.  On the Upside watch 15077-15265 levels to watch. On the down side supports exists at 14680-14600 zone. Regards, Suryadev Bandari Research Analyst www.earningwave.com

As expected on Budget day's update, Bulls strike hard from lower levels. New all time High's keep on forming in Nifty and Banknifty. Six days of correction retraced fully in 2 trading days by Bulls.  Power of Trend. Elliottwave Forecasted this bounce at lower levels on Budget day itself. Short sellers slaughterd by Bulls. This buying spree continues further. Upside to argets and stock specific levels available to paid subscribers ok only. Regards, Suryadev Bandari Research Analyst. www.earningwave.com

Today Bulls awaiting for Budget presentation.  Market already corrected aggressively. Ground preparing for good decent bounce back. If anybody holding short positions or Put Options, cover them in intraday Dips.  Overall pattern looks like correction at the ending stage and anytime pull back rally begins. After Budget session, Bulls can strike back and take Nifty to higher levels. Regards,  Suryadev Bandari Research Analyst www.earningwave.com