Nifty Daily

2 Mar 2021 ● 01:55 PM

LONG%	SHORT%
33%	67%

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	14994-15417	14571

Nifty is heading to cross the 20dma at 14994 and above that will test the upper band at 15417. Eventually, we can head to the upper channel line at 16050. The support level is the 40dema at 14571

Nifty is heading to cross the 20dma at 14994 and above that will test the upper band at 15417. Eventually, we can head to the upper channel line at 16050.

Prices appear to be going higher but do not rule out some short-term volatility and gyrations along the way to shake out weak hands. Mostly that happens before we breakout of the falling channel above 15075.

Prices appear to be going higher but do not rule out some short-term volatility and gyrations along the way to shake out weak hands.

The swing moved up to 65.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	35904-37335	34472

Bank nifty was the weakest today and the daily momentum is almost near zero. Visually it appears there but the actual number is 0.41. Almost done. The set up is for it to start wave III of 5 up which should take it back above the 20dma at 35904 to the upper band at 37335 and the upper channel line above that near 41000. The lower band support is at 34472.

Bank nifty was the weakest today and the daily momentum is almost near zero

Comments (0)