All categories

Mentorship

Mentorship

Nifty Daily

3 Sep 2020 ‚óŹ 11:13 AM

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 11860 11396

The down day did not help my case but I do not know what best to do but hang on to the 20dma final support 11396 at the 20dma. We have to also get used to the idea that weekly settlements have a notorious impact on markets. Now that is over so tomorrow is another day. Intraday support is at 11500 so a break below that on an hourly chart would not be good for the momentum. Else we should continue higher above it.

A trendline from the 11325 low has moved up to 11520 as the immediate support and we closed near it. The top end of he channel for this line is at 11700, so if we hold it we should now head toward 11700.

The swing moved higher to 45 even on a dull day. Rising for 2 days but we need a higher high still.

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  25670-26300  23385

The entire 3 days in bank nifty look now like the formation of a triangle and today in the final hour we fell below the lower line temporarily, what might be the final throw under or false break below 23550. Unless we sustain below 23550 the trend up is more than due to resume anytime now.

comments (0)

all category:

Latest Articles