Skip to main content

Is Market getting ready for Diwali rally????.

 Nifty cmp 11235.


10:10 AM.

As shown in chart, Preffered wave counts suggesting that Nifty corrected from 11790 to 11209 as part of triangle formation as Wave 4. 

Most probably Wave 5 bounce has to begin from current levels towards new all time highs possibly till this Diwaali.

Hence, traders can initiate fresh long positions in Banking stocks and beaten down stocks for this Diwali.

This view hold right, as long as nifty trades above 11150 spot. 

Up move confirms once, nifty surpass 11350 spot.


Suryadev Bandari

Research Analyst

Popular posts from this blog


Exhaustion gap formed. Bulls strength eroded???.

Nifty bounced back strongly on back of Major news announcement of Cut in Corporate Tax on Friday. Today nifty retraced 61.8% of entire fall. As of Now, wave 2 in finishing stages.  More possibility for Wave 3 down to begin any time soon. Hence, Be cautious. Its time to reduce long positions. Profit booking time. From current levels, nifty likely to retest 11000 levels anytime. Short term top made. New highs may not be possible from here. Keep booking profits in long positions. Wave 3 Impulsive Down move can begin any time. Regards, Suryadev Bandari Research Analyst

Nifty broken down from Ending diagonal pattern. Major trend reversal below 11850 spot.