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Nifty tested 25820. and rebouncing from there.

#nifty cmp 25940.  as expected nifty tested minor dip to 25820 and rebounding from there.  the Gap existed there acted as support.  Now #nifty heading towards 26100+++ zone from here.  New high likely in coming sessions.  Keep strict stoploss. Cover shorts, if any. regards, suryadev bandari research analyst

Happy Diwali Wishes to viewers

 

Truncated 5th wave with Ending Diagonal pattern visible in nifty daily charts. stay alert

 Nifty cmp 25515. Nifty daily time frame in line charts, indicating that probable Truncated 5th wave with Ending diagonal pattern in formation. as per This, truncated 5th wave can not move near or above the high of 3rd wave which is at 25669. This view negates, if nifty surpass 25669 spot. This is my positional view on nifty. keep strict stoploss to long positions. Regards, suryadev bandari research analyst