Earning Wave

 As expected, nifty tested 17290 approx, actual high 17285. From there, nifty witnessing selling pressure. Cmp 17205.  One minor dip expecting from current levels toward 17100-17050 zone. Buy on Dip mode. Major trend Up. Minor trend Down. Regards, Suryadev Bandari Research Analyst

  After testing day low 17833, Bulls strikeback and lifted nifty to 17060(cmp). Next crucial level to watch , is Friday's high 17155. then we see short covering rally in coming sessions Regards, Suryadev Bandari Research Analyst . #elliottwave   #earningwave   #stockmarketnews   #StockMarketindia

Wave 4 retracement done in double correction pattern, that's the reason we had to see deeper correction yesterday. Now Bulls stepped in and lift Nifty from yesterday low to today's high 16400 to 16900 levels  Once Nifty settle above 16900 , we can say that bottom made at yesterday's low. Fresh buying and short covering can lift Nifty even higher from current levels 16900 to 17200 in coming sessions. Regards Suryadev Bandari Research Analyst

 As of Now, as shown in chart, Entire fall from 17639 to Fridays low 16966 appears to be a-b-c three waves. which is a corrective characteristic. Unless nifty breaks down 16895 spot, still there is possibility for Bulls come back.  On higher side, Bulls need to surpass falling trendline at 17125-17195. Close above this falling trendline would indicate halt of selloff and fresh upmove can resume.  Only Monday's move can decide market direction. Technical parameters showing that market in extreme oversold zone , normally markets bounces from this zone. Lets see tomorrow, how markets reacts. Conversely, we may see more downside, only if nifty breaks down 16895 level. Regards, Suryadev Bandari Research Analyst www.earningwave.com

#nifty cmp 17290. #bulls getting ready for bounce. Technically strong buy signal in charts. 17400 is next crucial level.  17200-180 support zone. #suryadev #elliottwave #earningwave

#nifty cmp 17230. Ready to move higher. 17377 next resistance to cross  Base formed around 17200 level. Bulls prepared ground to takeoff. Fed meet outcome tonight. Market likely to respond positively. #earningwave #elliottwave #suryadev

 Bulls successfully surpassed initial resistance at 17440 and trading higher. Next trendline resistance at 17700-800 zone, once this falling trendline resistance breakout, then bulls get even more force to move higher. Be careful in selecting stocks at this juncture. Metals, Banking, IT, Auto sectors looks bullish from hereon. Supports at 17370-310 zone. Resistance 17520-17700-17800. Regards, Suryadev Bandari Research Analyst www.earningwave.com

Yesterday's price action clearly indicates that Bulls are Back with full force.  Next crucial level for Nifty is at 17440. Once this level surpassed, no turning back for Bulls. Today's RBI policy can give boost strength to Bulls if they  adapt  Status Quo policy. Supports 17050-16900. Resistance 17440-480. Regards, Suryadev Bandari Research Analyst