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Nifty Daily

24 Feb 2021 ‚óŹ 02:25 PM

LONG%

SHORT%

67%

33%

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  15130 14635

Nifty is back above the 20dma at 14848 which should now be an important trailing support in wave III up. Wave III up should first test the 61.8% retracement mark at 15130. Once we get past that then we test the high of 15432 again.

Nifty is back above the 20dma at 14848 which should now be an important trailing support in wave III up. Wave III up should first test the 61.8% retracement mark

Nifty went past the 20/40 hour averages and the falling trendline confirming a trend reversal on hourly charts. Now the 40hema at 14930 and the trendline at 14894 are support levels that should hold during corrections. 15082 and 15247 are the next two resistance zones from previous swing highs and lows.

Nifty went past the 20/40 hour averages and the falling trendline confirming a trend reversal on hourly charts

The daily swing bounced back higher to 31. The Nifty midcap index started wave iii of 3 higher and should attempt to go back toward the top end of the rising channel near 25800

The daily swing bounced back higher to 31. The Nifty midcap index started wave iii of 3 higher and should attempt to go back toward the top end of the rising channel

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Up  36700 35214

Bank nifty almost reached the 61.8% retracement mark at 36700. Once we cross that we should head toward the recent high of 37708. Wave III of 5 started today and should continue to new highs and the upper channel line near 40000. The 20dma at 35214 held as the key support and should remain the trailing level for the rest of the move.

Bank nifty almost reached the 61.8% retracement mark at 36700. Once we cross that we should head toward the recent high of 37708. Wave III of 5 started today

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