Earning Wave

Nifty in counter-trend wave pattern between 7500-9100 range. This counter-trend wave taking  "contracting triangle formation", to complete this triangle formation, one minor pull back to 8900-9100 possible before taking downward momentum. Hence, today expected to be in positive territory and can test anywhere between 8900-9100 zone. As we all know that counter-trend wave means a temporary pause in a major trend. After completing the counter-trend move, Major trend resumes, which downtrend. Hence, use this bounce to exit some of the long positions or book profits in long positions which were bought at recent lower levels. This is certainly not the right to fresh investments. Trade Accordingly. Resistance 8900-9000-9100. Supports 7700-7500. Regards, Suryadev Bandari Research Analyst

Nifty achieved our previous downside target zone 7700-7500. From there it bounced back to 8700+ today. As per the updated data, this bounce is in corrective pattern only. Its a Bull trap. Bulls should avoid falling in this trap. This bounce is short term only. Down trend to resume again and it can break 7500 levels too. Stay Cautious. Investors need to wait for some time. If possible, short sellers can initiate fresh shorts in Index with stoploss above 9100 lvels. This is for High risk traders only. Nifty daily range become huge so both risk and rewards also huge. Trade Accordingly. Today is March Series FnO expiry, so we can see huge volatility in Market. Market taking short breath only. Bears strikes again. Avoid fresh long positions. Its a sell on rally market, But due to restrictions on short selling, not everybody can short sell in this market. Conditions apply. Resistance 9000-9100. Downside levels 7700-7500. Regards, Suryadev Bandari Research Analyst ...

Be ready for new lows.  Unfortunate for day traders, SEBI imposed restrictions on short selling. A trader can take short selling positions only limited to his  stock holdings as per current market value. If you dont holding stocks in deemat, you are not eligible for short selling at all. Means, SEBI allowing only hedging opportunities for those who already owned stocks. Those who already bought and holding put options or carrying short selling on Friday, they can have choice to carry or exit only. New positions not allowed. Today possibly we may witness lower circuite. As more negative news spreading related to Covid-19, this crash can continue some more days  New investors accumulated capital and wait for good opportunity to begin investment. Regards, Suryadev Bandari Research Analyst.

Short seller's market. Sell on Every Rise. Traders Market. Last Friday, Nifty made new low 8555 and from there witnessed bounce back in the form of counter trend wave. From 10150, Next leg of selloff  Impulsive down wave has begun. yesterday , as we expected in last update, nifty recorded new low 7840. Due to Weekly options settlement and in minor counter trend wave it bounced to 9575 level but failed to sustain above it. As per classical Technical Analysis, Rule of Polarity says that Support once breaks it becomes Resistance. It proved again yesterday. 8555-8600 zone now acts as resistance levels. Yesterday's low 7840 now vulnerable to break down again and new lows possible. Significant levels to watch on downside are 7700-7500. By Observing market momentum, we can easily get the clue that Every Bounce getting soldoff. Sell on Rally market. New investors need to stay on sideways till market correction finished. This is traders market, especially short sellers mark...

As per the updated wave count,  5th Impulsive down wave has started in market. Nifty can breakdown 8000 mark. Avoid bottom fishing. Bottom has not made yet. Protect capital. Do not average in lossing stocks. This is falling knife. Do not try to catch it. Go with the flow.  This momentum favors short selling traders. This crash very different from 2008's. Small and midcaps already bleeded. Now large caps started bleeding. Large cap stock can bleed more on downside.  Short sellers still find shorting opportunity in large caps. Choose stock wisely. Next downside target 8000. Regards, Suryadev Bandari Research Analyst

Nifty facing selling pressure at every bounce. Buying support not visible at lower levels. Global news and Fear of COVID-19 dragging markets lower. Nifty failed to hold above 9500 and drifted lower even below 9000 levels. Now it appears that wave 5 impulsive down wave dragging markets lower levels, 8600-8500 possible.  Unless nifty moves above 9100 level, this selling pressure likely to continue. Avoid fresh long positions till the dust is settled. Risk is high on both sides. trade accordingly. Regards, Suryadev Bandari Research Analyst

Wide range. Wild Moves. Friday nifty witnessed lower circuit first and then rebound from 8555 to 10159 level. 1600 points wild move in a single day. Unimaginable range for intraday. Once in life time move. Great opportunity for those who track technicals keenly. These kind of moves tests ability of Analysts. Hard for average traders. Big opportunity comes with bigger risks. Risk averted traders can step aside from markets. These kind of wild moves to repeat in future also but range may differ. Elliott Wave Principle perspective, Wave 3 down has finished at 8555, wave4 start from there. wave 4 and wave 5 formation is still due. That's why we expecting some more volatile moves in short term point of view. Its not a right time to initiate fresh long positions for investment purpose. New investor still need to wait for completion of correction. Intraday point of view, Nifty range for the day would be 9500-10500 range. Buy near support zone and sell near resistance zone. Do not carry...