Nifty Daily

LONG%	SHORT%
83%	17%

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

NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	10553-11200	10098

Nifty managed to end with gains holding onto its hourly channel and closing above the 20 hour average at 10,362. All indicative that minor wave v may have started and logically should take us back above the 10,553 high seen recently. Yesterday's low of 10,194 will then become an important pivot. Overall wave 3 is supposed to equal wave 1 in which case it would end up at close to 11,200.

Nifty took support at the lower end of the channel that had risen to 10,320 before the last hour and went past the intraday high of 10,407. Ideally prices continue to the top end of the channel which is near 10,750.

The swing drop to 27 is the participation from stocks was limited despite a higher index.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	24800	20912

The deep retracement in the last 2 days makes it tempting to mark the recent dip as a minor wave ii and anticipate more extensions on the upside. I have made those changes and the should hold true as long as we are above the 20 DMA at 20,912 on a closing basis. The 3rd wave being equal to 1 would go to 24,800.