Nifty Daily

LONG%	SHORT%
58%	42%

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	Down	15336	14800-14300

Nifty closed below the 20-day moving average, and the daily momentum remains in sell mode. It is too early to say that the move down ended. The 2 alternate wave counts remain open either an ABC decline or a complex WXY is in formation. The 40 day average near 14,730 held out as a support today, however once broken we should be heading towards 14,580 and 14,320 in the coming days. A move beyond 15,110, a 61% retracement of the two-day decline could be a sign that the bears have aborted this move.

The trend channel from the October bottom at 14,730 is the 1st support below which should decline to the falling channel's bottom end near 14,406

The swing bounced back to 50, diverging from the nifty in the opposite direction. The MidCap index did not close below the 20 DMA today so the broad market was not exactly down big time.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Down	36500	34000-33760

Bank nifty took support on the 40 day average near 34,600 below which we should head towards the next support at 34,000 or attempt to fill the gap all the way down to 33,305.