Nifty Daily

LONG%	SHORT%
92%	8%

NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	10294-10550	9387

Nifty opened with a gap up in the same price range where it gapped down in March, and there was a good case for an island, however we fill the gap at the end of the day closing only marginally higher. The intraday movements though do not change the overall trend. Even an hourly charts we are probably holding the 20 average for now at 10,114, holding which we should attempt going back above the 10,300 Mark.

If the 10,120 support holds then we redraw the rising channel and the top end goes to 10,700.

The swing is back at 56 where it was 2 days ago giving back some of the momentum it had built up on Friday.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	21967-22300	20300-20060

Bank nifty should remain in wave iii up. The intraday pullback should find support at the 20 hour averge near 20900 from where the upward move should continue towards 25,500 where iii=i.