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Nifty Daily

5 Mar 2021 ‚óŹ 02:57 PM

LONG%

SHORT%

42%

58%

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  15449 14700

Nifty closed below the 20 DMA at 15,027, and needs to overcome this level again to move higher. A move above 50,030 would limit the downside, till then we remain open to 14,700. A move back towards 15,300 would result in a higher high higher low pattern and confirm wave III upwards. That might also push the daily momentum indicator back and buy mode. The upper band at 15,449 is the next resistance followed by the upper end of the channel at 16,157.

Nifty closed below the 20 DMA at 15,027, and needs to overcome this level again to move higher. A move above 50,030 would limit the downside, till then we remain open to 14,700

The hourly chart shows a triangle-like pattern which should confirm on a break out above 15,024, prices to retest the 15,273 high. Prices are also trading inside the falling channel that they had broken out of and once they go above the upper line again then the trend toward 15,600 would be again in force. The lower end of the channel is at 14,555

The hourly chart shows a triangle-like pattern which should confirm on a break out above 15,024, prices to retest the 15,273 high. Prices are also trading inside the falling channel that they had broken out of

The swing came down to 54.

The hourly chart shows a triangle-like pattern which should confirm on a break out above 15,024, prices to retest the 15,273 high. Prices are also trading inside the falling channel that they had broken out of

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  37327 34636

Bank nifty has come very close to the lower Bollinger band near 34,636. Prices should be due to turn up from here as wave II of 5 completes and wave III of 5 takes of towards 40,000 or higher.

Bank nifty has come very close to the lower Bollinger band near 34,636. Prices should be due to turn up from here as wave II of 5 completes

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