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Nifty Daily

17 Jul 2020 ‚óŹ 02:36 PM






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

 TIME TREND Up Level   Down Level
 Short term trend  Up  10980 10574

Nifty surpassed the wave iii high and should attempt pushing past the upper Bollinger band at 10,980. We are in wave v of 3 which can next go up to the upper end of its rising channel near 11,400. The 20 hour average at 10,750 should be the intraday support. The 20dma support is at 10574


The top end of the initial price channel was reached in the lower end support is at 10,840. Nifty left the gap behind above 11,035 up to 11,245 that we should attempt to try and fill.


The swing jumped to 58 and next we should watch it when it gets overbought above 80 or 90.


  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend  Up  22831   21329

Bank nifty managed to close above the 20 DMA at 21,905 and the next near-term resistance will be at the upper Bollinger band near 22,831. The 40dema is at 21329


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