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Nifty rebounded as expected and surpassed 11255 level what's next???

As forecasted, nifty rebounded from lows 10820 to 11375 (cmp). It crossed crucial resistance 11255 too. Next important levels to watchout are 11400-440 zone.
Those who bought at lower levels can book profits comfortably here.
Suryadev Bandari
Research Analyst.

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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.