Earning Wave

 Nifty trading at 18870. Banknifty trading at 43950. Both trading at key resistance levels. Follow up buying is missing. Huge call writing visible at 44000 and 43900 strike in Banknifty . Huge call writing visible at 18900 in nifty. As weekly expiry today, we can expect big fluctuation with negative bias. Stay alert. Avoid Fresh longs until nifty cross abvoe 19000 and Banknifty above 44100. Regards, Suryadev Bandari Research Analyst.

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 Nifty cmp at 18650. Unless nifty close above 18700 spot, outlook remains Bearish. Double top formation around 18695 spot . Technically Negative Divergence formed in Daily t.f. signalling upward steam fizzle out any time soon. Price action must confirm this view by dip below 18530 spot. Crucial supports 18530-18450. Crucial resistance 18695-725. Regards, Suryadev Bandari Research Analyst

#nifty sustained below our support 18600 level.  Today after recording day high at 18573, selling pressure dragged down nifty to 18520 spot. As long as nifty trades below 18600, trend remains DOWN.  Key support 18420. Key Resistance 18600. Regards,  Suryadev Bandari Research Analyst.