Nifty Daily

LONG%	SHORT%
50%	50%

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	14675-14884	14295

Staying above 14295 we are heading to 14675 and once we close above that towards 14884. 

Wave 4 completed a triangle and wave 5 started. Breakout from the triangle is above 14884 on a closing basis. And that would mean that we head back to all time highs. For now we still have to cross the moving averages near 14675 and the daily momentum indicator has to still go back to buy mode. The RSI shown below has however held the 38-42 range as support repeatedly for the last few months. Room to go much higher before it gets overbought again.

On the hourly chart the Nifty has managed to climb back above the channel from May'20 and we head to the gap area above 14652. Once the gap is filled we attempt a breakout above 14884-14900

The swing slipped slightly to 26.

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	33178-33990	30520

Bank nifty has pushed into the gap area that is up to 32330. Once the gap area is filled and surpassed we will test 33178 near the 20dma, and need to close above it.