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Nifty Daily

22 Jun 2020 ‚óŹ 02:46 PM

LONG%

SHORT%

92%

8%

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

  NIFTY          
 TIME TREND Up Level   Down Level
 Short term trend  Up 10550-11200 9895

The main event for nifty today was going past the wave 1 high of 10,328, and we should now test the immediate resistance from the trendline of the last 2 highs and the 61.8% retracement Mark near 10,550. Overall 3=1=11200. The daily momentum has crossed over to the buy side again and the RSI is near 65.

nd220620

Hourly charts are making higher bottoms and the immediate swing low is at 10,277 holding which we should again attempt to break past the top end of the channel which is at 10,465. If that happens a steeper channel for the new price action may be considered.

nd220620a

The swing moved up to 68, what you are seeing is the smooth version of the indicator which is a 34 and has a long way up to go before getting overbought.

swing220620

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend  Up 24800  20300

Bank nifty also went past the wave 1 high and came very close to its upper Bollinger band near 22,281. Overall we should be heading towards 3=1= 22,800. The daily momentum crossed back to the buy side here as well. The RSI went 62.

bn220620
 

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