Earning Wave

 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

 Banknifty broken key support and trading just above crucial support 42750. Break below this support means , more pain ahead in Banknifty. Next support zone 42000-41700. Resistance remains at 43200.43300. Its putting pressure on Nifty too. As far as possible, exit from long positions in Banking stocks. Regards, Suryadev Bandari Research Analyst

 Nifty cmp 18565. Put writers started covering shorts. Option data suggesting that any time market can give surprise to Bulls. Keep strict stoploss to long positions.  Technically, market nearing to All time Highs, Double top pattern. Negative Divergence at market highs, a warning bell to Bulls. Next crucial supports at 18050-18000 zone. Bears can strike back anytime at this juncture. Regards, Suryadev Bandari Research Analyst

  #nifty cmp 17690.  As expected nifty closed below 17850 and now heading down.  Below 17480 spot, we can see real intense selloff in market.  Keep watch 17480 level in nifty. www.earningwave.com Regards, Suryadev Bandari Research Analyst

 Nifty cmp at 17290. Series of Negative Divergences formed . Significant Call writing happening in Market. All these indicating profit booking possibilities at higher levels. Be cautious on Long positions. Regards, Suryadev Bandari Research Analyst

 Nifty cmp @16050. After prolonged sideways correction pattern, triple correction, nifty formed short term bottom around 15858. Now it gave clear indication of upmove from hereon. Next upside targets would be 16290/16400. Supports 15850. regards suryadev bandari research analyst

  #NIFTY50 CMP 17484.  Successfully surpassed critical resistance level by gap up opening.  Now in Buy on Dip mode.  On higher side next resistances are at 17640/17795.  supports at 17280-250 zone. Stock specific moves in action. Regards Suryadev Bandari Research Analyst     http:// earningwave.com #Elliottwave #Earningwave #suryadev

 Nifty cmp 16950.  Bulls failed to hold key support zone 17070-17000. Bears getting strength. More selling pressure ahead. Once nifty break and close below 16800 spot level, we can witness more selling pressure towards 16400--- levels in coming sessions. Resistance 17150-250. Supports 16800-700/16400/16100. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Recent swing low 17180 to today's high 17827, it appears to be completed impulsive wave, hence, before resuming rally, Bulls likely to take a pause for couple of days. A-B-C correction pattern can begin any time from current levels, Buy on Dip mode. Major trend Bullish, Short term trend Bearish. Move below 17750 would trigger selling pressure. Lower time frame charts already formed Negative Divergence in Technical Indicators. Be alert on holding long positions. On lower side, 17550-17450 acts as support zone. Regards, Suryadev Bandari Research Analyst

 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

Nifty closed at new record High yesterday at 17234. Broad-based buying happening in the market. Multiple sectors are participating in this rally. Bank Nifty heading towards previous all time higher levels  Financial services sector also started rally. Next higher levels to watch in nifty are 17400-17500. Key Supports at 17000-16900. Buy on Dip mode. 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

 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