Earning Wave

 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  

Today Bulls awaiting for Budget presentation.  Market already corrected aggressively. Ground preparing for good decent bounce back. If anybody holding short positions or Put Options, cover them in intraday Dips.  Overall pattern looks like correction at the ending stage and anytime pull back rally begins. After Budget session, Bulls can strike back and take Nifty to higher levels. Regards,  Suryadev Bandari Research Analyst www.earningwave.com