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 @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

Nifty continuing it's down move  Today it completed minor abc correction pattern from 16244 to 16394. Now 16150-16060 zone under risk. It can break down anytime soon. Protect longs with stoploss. Avoid fresh longs. Reduce long exposure. Regards,  Suryadev Bandari Research Analyst.