Nifty Daily

LONG%	SHORT%
67%	33%

Position Sizing model - Long % = percentage of indicators bullish v/s Short % = number of indicators bearish, Including both daily and weekly time frames.

NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	15130	14635

Nifty is back above the 20dma at 14848 which should now be an important trailing support in wave III up. Wave III up should first test the 61.8% retracement mark at 15130. Once we get past that then we test the high of 15432 again.

Nifty went past the 20/40 hour averages and the falling trendline confirming a trend reversal on hourly charts. Now the 40hema at 14930 and the trendline at 14894 are support levels that should hold during corrections. 15082 and 15247 are the next two resistance zones from previous swing highs and lows.

The daily swing bounced back higher to 31. The Nifty midcap index started wave iii of 3 higher and should attempt to go back toward the top end of the rising channel near 25800

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	36700	35214

Bank nifty almost reached the 61.8% retracement mark at 36700. Once we cross that we should head toward the recent high of 37708. Wave III of 5 started today and should continue to new highs and the upper channel line near 40000. The 20dma at 35214 held as the key support and should remain the trailing level for the rest of the move.