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Nifty Daily

9 Apr 2021 ‚óŹ 04:17 PM

LONG%

SHORT%

75%

25%

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 15240 14459

Nifty is still above the 14762 level [20dma] and the hourly band. Holding these levels we are due to start the next move higher toward 15240 in wave iii of iii.

Nifty is finding support at the swing low of 14776 after the leading diagonal. Holding this support the move to the top end of the channel should resume.

The swing advanced further to 75

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  33755 32141

Bank nifty is still in minor wave i and ii of an up move till it holds 32141. If that breaks it will affect sentiment and break the rising channel shown on this chart. The daily momentum is in sell mode for a second day so confirmation is needed that the move up is resuming from a higher low. Now nifty and bank nifty cannot diverge on the overall trend so if nifty is setup to go higher bank nifty should follow. 

 

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