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Nifty Daily

28 Feb 2021 ‚óŹ 01:14 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  14886 14421-14300

Nifty remains in wave 2 and an a-b-c decline is going on where we might test the 61.8% mark near 14300 before resuming the upward trajectory. The lower band at 14421 is the immediate support that can keep prices from falling too much. We are in wave c of an a-b-c decline that is retracing the gains made in the post-budget rally, shaking out weak hands. The next move higher will be more clear cut as volatility will reduce. 

Nifty remains in wave 2 and an a-b-c decline is going on where we might test the 61.8% mark near 14300 before resuming the upward trajectory. The lower band at 14421 is the immediate support that can keep prices from falling too much

Nifty is back at the lower end of the falling channel from the 15431 high. The rising channel from the Oct bottom is lower at 15350 which is closer to the 61.8% retracement mark. Breaking the lower end would break the trend from Oct.

The swing is falling again and at 29. The pattern is no more like what it was before FEB so let us forget that now. The reading below 20 gave us a bounce back but not the final bottom.

The swing is falling again and at 29. The pattern is no more like what it was before FEB so let us forget that now. The reading below 20 gave us a bounce back but not the final bottom. So let's see what comes next another oversold reading or a positive divergence.

  BANK NIFTY        
 TIME TREND  Up Level   Down Level
 Short term trend Down  35736 33958

Bank nifty holding the 20dma made me optimistic as wave 2 of wave 1 and 3 took support here and went to new highs in wave 3. In this case, now we have a break, so we can still fall to test the lower end near 33958 in wave c of II. 

Bank nifty holding the 20dma made me optimistic as wave 2 of wave 1 and 3 took support here and went to new highs in wave 3. In this case, now we have a break, so we can still fall to test the lower end near

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