Nifty Daily

9 Feb 2021 ● 12:54 PM

LONG%	SHORT%
92%	8%

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	15450	15083-14900

Nifty came close to 15300 and closed down by a thin margin but as long as hourly averages are not broken I cannot think of a correction. The 20 hour average at 15083 and if that breaks 14900. From one of those levels, we should continue higher toward 15400

The 20 hour average at 15083 and if that breaks 14900. From one of those levels, we should continue higher toward 15400

15041 is the high of the gap zone that should be a support, below that the channel line at 15004. On the top end, the second channel is rising toward 15450.

The swing is 64 and declining against the Nifty but we have seen that before and it got relevant only after clear negative divergences.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	37600	35600-35176

Bank nifty is in minor wave II of 5 and 35600 and 35176 are the support levels. Its a waiting game for the pullback to complete, the size is hard to call. Maybe just time wise consolidation.

Bank nifty is in minor wave II of 5 and 35600 and 35176 are the support levels. Its a waiting game for the pullback to complete, the size is hard to call.

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