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Nifty Daily

13 Aug 2020 ‚óŹ 01:44 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 11400-11600 11157

Nifty closed down for a second day but by a very thin margin. Nifty remained in minor wave ii for the day and wave iii up is still to start. The intraday support of 11270 holding we should go higher from here in wave iii. Wave iii=i points to 11780 next. 

The swing lows of 11270 and 11240 are support and the rising channel will stretch toward 11600 now..

The swing moved up to 65 aided by the strength in the broad market, as breadth remained positive.

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  23211  22053-21741

Bank nifty also subdivided into wave ii down today with the immediate support at the 20dma at 22053. Holding this we should head back higher in wave iii toward the upper band near 23060, and beyond the wave 1 high of 23211.

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