Market likely to take a PAUSE.

After our update, Nifty rallied from 19225 to 20095, it appears that, nifty likely to take a pause before another rally.

Technically , Negative Divergence formed in Hourly charts.

Five inner waves appears to be completed as per Elliottwave Perspective.

Several other parameters indicating that markets likely to cooloff from over bought position.

It's time to be cautious on taking fresh long positions.

As far as possible, keep booking profits, at least , partial profit booking and keep strict stoploss to remaining long positions.

Key supports to watch 20000-19870-19700.

Resistance 20100-20200.

Regards,

Suryadev Bandari

Research Analyst

Comments

LIVE ON DOORDARSHAN 8 YADAGIRI "BUSINESS MUCHATLU"

#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

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

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