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Nifty Daily

11 Feb 2021 ‚óŹ 12:21 PM

LONG%

SHORT%

92%

8%

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

Thin on volume, we formed an engulfing bull candle today. I would like to think that minor wave ii completed and iii up started and we are now heading toward the upper band at 15413 followed by the parallel channel at 15500. The pace of the trajectory for wave 3 of 3 as per the alternate count has still to be observed. A lot will depend on the broad-based participation from stocks in the secondary [cash] market that is still missing.

Elliot wave analysis done by Rohit Srivastava for indiacharts

If the nifty does manage to gather some speed then the channel for the rally from the Jan low would go all the way to 16100.

Thin on volume, we formed an engulfing bull candle today. I would like to think that minor wave ii completed

The swing only declined by one point to 54. 

Thin on volume, we formed an engulfing bull candle today. I would like to think that minor wave ii completed

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  38800 35438

Bank nifty did not turn positive but once it starts minor wave iii it should first go to the upper band near 37200 and above that to the channel line near 38800

 

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