Nifty Daily

9 Mar 2021 ● 04:09 PM

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	15430	14862

Nifty went back above the 20dma and pushed the daily momentum into buy mode. Wave iii of c up is in progress. The idea should resolve as we progress. The next resistance is at the upper band near 15450.

Nifty went back above the 20dma and pushed the daily momentum into buy mode. Wave iii of c up is in progress. The idea should resolve as we progress.

Nifty flirted with the first breakout point and is not out of a second smaller falling channel. The upward channel around prices goes up to 15600 for the next move higher.

The swing declined to 34 as the broad market was weak today.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	37000	34557

The 20dma is at 35941 and we did not close above that for bank nifty. Once we go higher we can think that wave III started. Till then we are stuck in the 34557-34941 trading range.

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