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Nifty Daily

24 Mar 2021 ‚óŹ 02:05 PM

LONG%

SHORT%

25%

75%

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 14878 14314-14200

The decline confirms that the rise was an x wave, though this x wave is only 3 days compared to the previous one. Once we break 14500 we should continue toward the 14314 or lower. The orange channel trendline is now closer to 14200.

Nifty started making lower highs on the hourly chart and we can make a falling channel with the top end at 14645 and lower end at 14360. If 14314 breaks expect 14200 or lower.

The swing declined to 39 and has room to decline to oversold zone below 10. 

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Down  34360 32150-29687

Bank nifty fell below the low of wave y and is now in wave z that should fill the gap down to 29687.

 

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