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Nifty Daily

15 Sep 2020 ‚óŹ 12:44 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 11560-11632 11443-11185 

An outside bar and then an inside bar sets the range 11568-11383 as the breakout range. The side you break we get a trending move. My bet is we did wave i and ii and so iii will break the upside and we head toward 11770 or higher. The good news is that the daily momentum crossed over to the buy side from the zero line. A new cycle is in force consistent with wave 5 up.

The upward trend channel to yesterdays low held its own. We are going to the top end of the channel at 11700. Support is at 11460. 

No change in the swing at 77. Overbought only above 80-90

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up 22975  22062

Bank nifty completes a 5 wave decline. This can be bearish unless we consider the running flat in wave 2 as shown. So if we hold the 22062 low we can say wave C of 2 ended and wave 3 starts. If it breaks then we will be back to the thinking camp. The 20dma is at 22975 the first hurdle to cross while the daily momentum remains in sell mode.

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