Earning Wave

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 completed minor wave in flat pattern as shown in chart below, Bulls to resume their move from hereon, which can take nifty above 16000 levels. Avoid fresh shorting. Build fresh long positions with stoploss below 15500. Metals, FMCG, IT can lift nifty upwards. Resistance 16070-16220. Support 15500-550. Regards, Suryadev Bandari Research Analyst www.earningwave.com  

 Be alert. Bulls have strength as long as nifty trades above 14637 spot. Once this level get breached, Bear get active. Hence, watch 14637 keenly.  Trade accordingly, regards, Suryadev Bandari Research Analyst www.earningwave.com

 nifty cmp 14744. Friday, nifty tested 14352 low and from there it bounced back to day high at 14787. This 435 points rally consists of only 3 inner waves. If this is impulsive up move, we shall see one more up move above 14784   14860 and then 14970. If nifty slips below 14640, its a warning signal that, up move attempt failed and nifty to move lower than 14352.  Key Points to consider: 1. Hourly charts indicating that on Friday Bulls strongly close above resistance level 14708.  Immediate support comes at 14668. 2. Daily charts, Strong Resistance face at 14995. Immediate Support at 14680. 3, Weekly Charts showing that some kind of profit booking is happening at higher levels,  Weekly key resistance at 14973, Support at 14350 then 14010. Except short term  moving averages, Medium and Long  term Moving averages are strong and up momentum intact. Hence watch 14973 On upside and 14350 on Downside , to get to know what actually market wants to go. He...

As expected in last update, Nifty moved upward from 15220 to 15400 zone  From 15430 level, minor corrective pattern has begun and it completed yesterday at 15170. Double correction pattern, zigzag and Flat pattern.  Moreover, Nifty tested lower gap between 15245 to 15185 zone. This gap held as crucial support on closing basis. Now Nifty heading towards 15450-15500 zone. Major trend up. Initiate fresh long positions for higher levels 15500+. Keep stoploss at 15040 for long positions. Regards, Suryadev Bandari Research Analyst www.earningwave.com