Nifty Daily

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	15500	15043

Not a doji but  marginally lower closing on average for nifty despite the last minute surge. The RSI is below 70 so not overbought. If you think this is the end of wave 5 you would consider it a negative divergence. But we bounced off the lower band on the hourly chart and did not break the 40hema so I will consider the decline minor wave ii and iii up should be next. Going toward the next channel line near 15500. The blue markings show the bullish alternate counts for new highs.

Prices found support just below the channel line at 15043, holding which we head to the secondary channel line at 15500. if today's low of 14977 breaks then we think of deeper retracements else not.

The swing is down to 55 now about time we start up again for stocks? lets see. 

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	38300	35438

The decline in bank nifty brings down its RSI to 73 from 76. Not a lot but whatever it is. Minor wave ii is being considered. 35428 maybe the bottom for wave ii on the hourly chart and till today's low holds wave iii up can start and head back to the upper end of the channel near 38300