Nifty Daily

22 Feb 2021 ● 04:25 PM

LONG%	SHORT%
42%	58%

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	15431	14498

Chavan tells me last two corrections ended in 5 days. My observation today is that total market Call open interest is higher than put open interest by 51598 crore. That is massive and should mean an oversold PCR. So all the option sellers are now bearish and that trend should change unless the market trend has changed at a larger degree. The market has to prove the bears right. I am not happy to see a close below the 20dma.

So all the option sellers are now bearish and that trend should change unless the market trend has changed at a larger degree. The market has to prove the bears right.

The falling trendline is at 14970 above which the trend changes from down to up. The swing came in at 17 below the 20 mark that puts it into mildly oversold. Below 10 is extreme oversold for short term trading.,

BANK NIFTY
TIME	TREND	Up Level	Down Level
Short term trend	Up	37708	34505

Bank nifty remains above the 20dma so it is still a positive trend meaning that wave II of 5 maybe ending and wave III of 5 upward has to start next. The 20dma at 34505 is the ultimate support.

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