Earning Wave

 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

 Nifty cmp 16140. Nifty recorded high 16275 on Friday. After 2 days consolidation, nifty today likely to breakout that high 16275 from current levels. Above 16275, short covering lifts nifty towards 16400+ levels. As long as nifty trades above 16060, avoid fresh shorts. Buy on Dips mode. Regards, Suryadev Bandari Research Analyst

 Nifty cmp 17171.95 On Friday, Global markets Bleed more than 2.5%  Even SGX NIFTY displaying global sentiment. Apart from that, From the Elliott Wave Perspective, Under current trend is Bullish as recent selloff from 17414 to 17171 is part of Wave ii correction pattern. which can extend till 17080. From there Bullish impulse wave iii upward can begin. Stoploss or Pattern invalidation point is move below 16820 spot level. As long as this level holds, Bullish outlook intact. Regards, Suryadev Bandari Research Analyst www.earningwave.com      

  #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 17247. 17300 IS VERY CRUCIAL LEVEL FOR BULLS. IN CASE, BULLS REGAIN THIS 17300 ZONE AND SUSTAINS ABOVE IT, THEY CAN LIFT NIFTY FURTHER UPWARD TOWARDS 17550-17650-17770. ON DOWN SIDE KEEP STOPLOSS BELOW 16950. REGARDS, SURYADEV BANDARI RESEARCH ANALYST  

  #NIFTY CMP 16860.  16850-16980 ZONE STRONG RESISTANCE ZONE.  MOST LIKELY X-WAVE CAN END IN THIS ZONE AND NEXT SET OF CORRECTION PATTERN CAN BEGIN FROM HERE.  PROTECT LONGS WITH STOPLOSS.   #ELLIOTTWAVE   #EARNINGWAVE     #SURYADEV     #BEARS   REGARDS, SURYADEV BANDARI RESEARCH ANALYST  

  #Nifty 16630. Double three correction (abc-x-abc) unfolding.  Recent rise from 15700-16750 was X-WAVE. Next down move can begin from tomorrow.  Protect longs with strict stoploss.   http:// earningwave.com #Nifty #Elliottwave #Earningwave #suryadev   Regards, Suryadev Bandari Research Analyst, SEBI.

 #nifty cmp 15780. 15500-450 support zone is Bulls last hope. More pain ahead below this zone. #elliottwave #earningwave #suryadev Regards, Suryadev Bandari Research Analyst.

 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

 Bulls successfully surpassed initial resistance at 17440 and trading higher. Next trendline resistance at 17700-800 zone, once this falling trendline resistance breakout, then bulls get even more force to move higher. Be careful in selecting stocks at this juncture. Metals, Banking, IT, Auto sectors looks bullish from hereon. Supports at 17370-310 zone. Resistance 17520-17700-17800. Regards, Suryadev Bandari Research Analyst www.earningwave.com

 Finally, nifty crossed successfully most rigid and psychological resistance 18000 level and successful in holding above this level since it crossed today. Now short covering and fresh buying will lift nifty further more above 18100-18150 zone. Even now, there is plenty of buying opportunities in select sectors and select stocks. Avoid short selling at this level. Technicals are strong and favoring bulls. Next resistance zone to watchout for next move 18100-18150 zone. Supports 17850-800 zone. 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

 Nifty still in trading range between 15500 to 15965 range. Any further move, nifty has to break this range. Technically speaking, 15845 is crucial level to watch on Monday, once this level recapture by Bulls, we see more buying interest coming in market. Bullish sectors for this week are IT , Metals, Realty and Pharma. Stock specific moves can be visible. Be with sector leaders. Stock selection is crucial. As long as nifty trades above 15500, this is Buy on Dips mode. Technically, RSI  trading above 51 level and MACD ABOVE zero line.  Odds are still in favor of Bulls. Regards, Suryadev Bandari Research Analyst www.earningwave.com        

 Nifty consolidated in tight range of 15600-15960 from past one month approx, now its ready to breakout this range and move higher side. Elliottwave Point of view, sideways double correction pattern done at recent low 15575. From there we witnessed Buying attraction in market. Next level to watch on higher side is 15975 and 16070 zone. As we entered into last week of Monthly expiry, I am expecting sharp moves on higher side once nifty able to surpass 16070 level. IT and Banking and Finance sectors likely to support nifty to move higher. Traders and Investors can initiate fresh long positions with stoploss below 15750 spot level. Regards, suryadev bandari research analyst