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Nifty Daily

8 Jun 2020 ‚óŹ 02:49 PM

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.

nd080620

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

nd080620a

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

swing080620

  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.

bn080620
 

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