Nifty Daily

LONG%	SHORT%
92%	8%

NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	10294-10550	9944-9519

Nifty closed positive possibly ending wave II and starting wave III up today. As long as we stay above 10,021 this is true and we should go past 10,328 and 10,550 in 1/3 wave where 3 = 1 goes to over 11,700.

The hourly chart shows a clear 3 wave correction in the last 2 days and therefore redrawing rising channel we have support from 10,660 all the way to the top end of the channel near 10,8506.

The swing remains at 44 no change.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	21967-22300	20300-20189

Bank nifty also close positive and should have started wave iii up today from the low of 20,629 and from that low the 3rd wave can go to 25,500 considering that it is equal to the 1st wave.