Nifty Daily

LONG%	SHORT%
75%	25%

NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	10148-10550	9616

Nifty closed positive and above the 20dma despite the intraday volatility. So the trend is in tact we are in early stages of wave III up that should make new highs with immediate resistance near 10148 and immediate resistance at 9674.

If nifty holds today's low of 9728 then we can build on a small rising channel that goes all the way up to 10,206, and if you breakout above that then we should a retest the high of 10,328.

The swing moved to 18 coming out of the extreme oversold zone and should continue higher with the market.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	21967-22300	19610

Bank nifty put to test its 20 day average once again on the back of intraday volatility and managed to close above the 19,610 level. The setup remains intact for wave iii move towards 24,500.