Earning Wave

 Nifty almost achieved my expected target 16700. Nifty successfully retested breakout level 16375 and got buying support there and bounced back to above 16635 yesterday and today recorded high 16699.70. This rally likely to continue more towards 16850-900 level positionally. Any dip is a buying opportunity. Key supports 16535-450 zone. Metals and Banking sector likely to outperform. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty successfully surpassed 16500 level and making new highs every day. Next technical level to watch is 16700-750 zone. Every minor dip is a buying opportunity. Be stock specific. Use proper stoploss for longs. Avoid short selling. Crucial supports are at 16450-16400 zone. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 As mentioned in last update, Nifty corrected from 16300 to 16180 levels around yesterday. My expectation was it can test 16150-160 range but it took support at 16180 level and take a U turn. Now, Bulls are back into action. Nifty can move up to 16388-400 zone today.  Stock specific action can be visible today. Investors and Traders must be choosy in selecting stocks. Banking and Financial Sector looks promising to take fresh longs for short term and long term investment purpose. Be with the industry leaders in stock selection. Supports 16150-16100. Resistance 16323-388-400. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty rallied nearly 830 points non-stop in 7 trading sessions. Short term point of view, markets likely to take pause and can retrace to anywhere between 16150-15950. Short traders can book at least partial profits and wait for dip to re enter at lower levels. Banknifty too rallied from 34140 to 36220 , nearly 2000 points in 7 trading sessions. Banknifty can retrace anywhere between 35400-35000 zone. New traders can wait for a dip and initiate long positions at above said retracement zones. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Nifty still in trading range between 15500 to 15965 range. Any further move, nifty has to break this range. Technically speaking, 15845 is crucial level to watch on Monday, once this level recapture by Bulls, we see more buying interest coming in market. Bullish sectors for this week are IT , Metals, Realty and Pharma. Stock specific moves can be visible. Be with sector leaders. Stock selection is crucial. As long as nifty trades above 15500, this is Buy on Dips mode. Technically, RSI  trading above 51 level and MACD ABOVE zero line.  Odds are still in favor of Bulls. Regards, Suryadev Bandari Research Analyst www.earningwave.com