Did you trade NSE NIFTY’s Wave Setup? (Published Today at 02:09 PM )
Click here: NIFTY: 25,700 Drop or 26,400 Breakout?
We had written clearly, “If price rejects at 26,100 and fails to sustain above, consider short bias with targets at 25,946, 25,905, and 25,787+.”
Timeline:
- First update: 25 November 202502:45 PMNIFTY has reached the first target of 25948.
- Second update: 25 November 202502:45 PMThe price has touched the second target of 25905.
- Final update: 25 November 202503:29 PMNSE NIFTY set a new high of 25857.
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Bank Nifty: The 58,650 Turning Point
Bank Nifty is trading inside a broad corrective channel, and the price has once again dropped into the important demand zone between 58,700 and 58,650. This area has repeatedly acted as a base for rebounds, making it the key support that must hold for any bullish attempt. If buyers defend this zone and the index starts closing above 58,850 – 58,900, momentum can shift upward quickly, opening the door for a strong recovery toward the upper boundary of the channel.
However, if the support at 58,650 breaks, the bullish structure collapses, and the chart favors a deeper decline. A sustained move below this level would confirm weakness and likely send the price toward the 1.618 extension area around 58,326. In short, 58,650 decides the next major move: holding it invites a rally, losing it signals continued downside.
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