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Nifty Daily

22 Mar 2021 ‚óŹ 01:05 PM

LONG%

SHORT%

33%

67%

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  14780-14960 14314

Despite the intraday day moves the close was marginally lower so it is not conclusive. Wave x is over or will go on till 14960 remains to be seen. The 20dma is at 14889 as the next resistance.

The entire intraday move today fits into a flag, and we broke out of it. So breaking out of the falling channel and now the flag does appear bullish unless we break back below14597. The next resistance is at the 14900 mark near the rising trend channel that was broken.

The swing rose sharply to 65, as the downward momentum slows.

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Down  34355-35235 32360

Bank Nifty was weak today losing 1.6%. A follow-up to a lower low below 33361 could mean that bank nifty just continues lower toward 32360. 

 

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