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Nifty Daily

12 Aug 2020 ‚óŹ 11:09 AM

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 11420-11600 11129

A small loss for nifty as it breakks up wave v of 3 into i-ii-iii-iv-v itself. We completed wave ii today and iii up should start next iii=i goes to 11750 odd so that is the next level. The 11433 gap zone might not be that formidable once we surpass the upper Bollinger band at 11420. The daily momentum ended up kissing its average but still not crossing over to the buy side so that will need another day to happen.

Lower end of the channel at 11285 is support and top end is at 11570. I redraw this channel till we get a serious break down of lower lows .

Two points lower at 60 the swing is at its average.

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  23211  21718

Bank nifty is the winner as of now with the daily momentum in buy mode a second positive day above the 20dma and the 7th consecutive positive close. 22400 is 61.8% of the previous decline and a move above that would further the view that we are heading back above 23211.

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