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Nifty Daily

11 Jan 2021 ‚óŹ 12:48 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  14700 14039

Nifty continues toward the top end of the channel that has moved to 14700. Minor wave iii of 5 is in progress and iii=i goes above 15000, so unless iii is somehow short it is going to overshoot these channels. A new channel of the last two lows is drawn up to 14900 .

Multiple channels working on this chart and the last one has its top end at 14800.

The swing declined to 54 after touching 77 on Friday, this may look like a short term divergence but today's decline is on the back of the decline in the midcap indices in wave iv mostly. 

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  33300 30893

Bank nifty subdivided wave iii into i and ii so iii of iii now goes to near 33300.

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