Skip to main content

Posts

Market Awaiting for Budget 2020.

From past few days market trading in a tight range 12170-12020. Within the gap zone as mentioned in last update. Directionles sideways momentum. Important to note that on Higher side resistance at 12170 and on lower side gap support at 12033. It looks like this zone is equilibrium for Bulls and bears. Bulls have important crucial support placed at 11927-11900 zone. This zone can be demand zone to create long positions. Any selling pressure can lead nifty to this critical support zone. Bulls need to protect this crucial support zone in order to keep uptrend intact. In case, Bulls fails to protect this support, can turn intermediate trend into Bearish. Hence, 11927-11900 can be TREND DECIDING ZONE. Move above important resistance zone12150-12170 would indicate resume of uptrend. Hence, its important to watch 12170 on Higher side and 11900 on lower side for trend identification for next month. Conservative approch is to wait till completion of Budget presentation and wait fo...
Read more

Bears struggling to crack Bulls support zone.

After testing our projected  resistance 12272-12280. Nifty again came down due to global market sentiment. Today Bulls trying to put fullstop to Bear pressure and opened higher. Protecting important support zone. Here, Bulls have advantage of cushion of support in gap zone -12036-12065 zone. As long as this support zone holds, Bulls have clear advantage. Bears come under pressure once nifty move past above 12161 spot. Many of stocks trading near support zones, hence any time Bulls can lift market higher. Avoid short selling. Momentum slowly inching upwards. Conservating buying can initiate above 12161 spot. Above 12161, next higher target would be 12272-12280 zone. Resistance 12161-12272. Supports 12065-12036. Regards, Suryadev Bandari Research Analyst www.earningwave.com
Read more

Introduction offer

On event of Introduction of INTRADAY service, we are giving introductory offer of   30% discount 4 times . (effective price Rs 7000/- after discount) (i.e, gets 30% discount 4 weeks including first week subscription). This offer applicable to  first 10 members who pays before Market opening on Monday. This discount offer expires on Monday  27-Jan-2020 9.30 a.m Regards,  Suryadev Bandari Research Analyst. Note: Minimum capital requirement to trade in Option segment is Rs. One Lakh. For Futures segment More than Rs 3,00,000/- or margin requirement as per exchange rules.   
Read more

Bulls are in strong position. 12280-12300 likely target.

Bulls in full action today. As mentioned in last update, after forming Bullish Harami Candle pattern, today bulls are in a position to lift index further higher levels. First swing high 12230 has taken out successfully by Bulls. Now, short covering rally can be expected as long as index trades above this swing high. Next upside direction would be towards 12280-12300. Hence, every intraday dips can be bought into by Bulls. Avoid short selling today. Technical indicators clearly showing that upside momentum has builtup in market and it likely to continue. Supports comes in gap area 12130-12045. Market breadth also indicating strong Bullishness today. Regards, Suryadev Bandari Research Analyst www.earningwave.com
Read more

Lower gap acting as cushion to Bulls. Break to correction...

From past 3 trading days, nifty witnessed severe profit booking from 12430 to 12087. Nearly 343 points fall from highs. As mentioned in previous update, lower gap existed at 12133-12045 acting as support for Bulls. As per today's opening pattern, it clearly visible that bulls applied breaks to correction and stepped in. Formed Bullish Harami pattern as per Candlestick analysis. It is possible that Short covering action lifts market further upward direction. Similar candle pattern clearly visible in Banknifty charts.                                   Technical indicators like MACD , RSI clearly showing trend changing signals.  As we approaching near to expiry week, short covering rally can begin from current levels. In doing so, nifty has to break out first swing high, which is placed at 12230. Once Bulls succeeds in breakout this 12230 swing high, we can e...
Read more