Nifty made 23110 high. Now what????

As expected nifty turned bullish above 22800 level and made new high today at 23110 and showing some kind of profit booking.

So what's next.???

It may dip towards 22800-780 zone minimum from here.

Contrarily, close above 23130 would again turns bullish.

Hence, 23130 is negation level for this bearish view.

Book profits wherever possible.

at least in partial profit booking.

Regards,

suryadev bandari

research analyst

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High made at 22600 today, What next, Correction???

Today nifty made high at 22600 and facing selling pressure. By looking at selling pressure from day high to 22400 below levels, it appears that, nifty made medium term top today and vulnerable to correction from here. Stay cautious. Bulls need to sustain 22000 support levels, if that breaks down, we can expect more pain in market. Regards, suryadev bandari research analyst

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

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