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	15430	14862

Nifty closed higher but not buy a large enough margin that the daily momentum indicator ended slightly below its signal line, meaning that it could be in sell mode again. If this is a false signal it should go away in a day or 2 else it simply shows the lack of momentum in the index movements recently. We are still above the 20 DMA at 15,022 which is the immediate support. The trend is positive above this average and weak below this average. I continue to expect range-bound moves into the month-end before a clear trend shows up. Financial sector stocks appear to be building up for a move higher.

For now, prices remain inside the rising channel where the lower end support is at 15,039, staying above which prices should head towards the top end of the channel near 15,600.

The swing declined to 32 and now we have a 2nd day of nifty going up and the swing going down resulting in some form of divergence. One of the two has to give up.

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

Bank Nifty was even more lethargic and still did not crossed the 20 DMA which is at 35,948, just 10 points higher than where we closed. Above this level, bank nifty could go towards the upper band near 37,000, else it may retest the lower end at 34 560. My sense however looking at financial stocks today is that most of them are set up to move higher and therefore banking and financial stocks may see a bump up in the next couple of days