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Nifty Daily

9 Oct 2020 ‚óŹ 03:54 PM





Position Sizing model - Long % = percentage of indicators bullish v/s Short % = number of indicators bearish, Including both daily and weekly time frames.

 TIME TREND Up Level   Down Level
 Short term trend Up 12050-12200 11700

Nifty is getting closer to the objective of 12050 for wave iii with an open case for extending higher. So far no pauses for 7 days. 11834 and 11700 are the intraday support levels from the moving averages. holding these wave 5 up is in progress toward 12500 or higher.

Hourly channel support is at 11870 and we can go to the top end near 12100 or where wave iii=i near 12200.

The swing rose marginally to 73. A divergence still developing

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up 24810-25232 23000

Bank nifty went past the 61.8% mark of the fall from the Sept high. Next is the wave 1 high at 25232. Then 61.8% of the Entire fall from the Jan top at 26300. Wave iii up is going on till it is not over. 161.8% of wave i is surpassed and now 261.8% is at 24810.


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