Nifty Positional View - 20.05.2015

Positional: Lets have a look at both Weekly & Daily Charts below -

1) Weekly chart is giving a blind bullish signal on LBB. It has happened twice before as marked..
2) A follow up candle & break of MBB will be good sign of strength.
3) Daily Chart on the other hand is going into DP zone.
4) Daily UBB is coming down- fast..
5) Daily Trendline is too far for a confluence.

So the plan is to be in Longs till Price touches 8470 odd levels & then if price gets a rejection from there, i will attempt a Short near to daily UBB.., else my final try for a Short will be near 8570 level..

Lets see how market unfolds ..

Weekly Chart - 

Daily Chart-

Nifty Positional View - 03.05.2015

Positional: Nifty moving down by providing a BPB on last Flip. Although Trend is still down, but -

1) there is Layer on Layer Below the recent Zone. Too many DP confluence.
2) A Bounce is expected ! which may go to 8385 - 8465.
3) If the Bounce breaks the recent Flip & sustains above, one can take Risky Longs for short term for above targets. But keep in mind, Mkt is still SELL on Rise.
4) A Fast downmove breaking below all the layers will call for a Major Fall.

As of now, Don't Short !  It doesn't mean to go Long! wait for the price to come out of the woods..
I am still in my Shorts with SL above Flip Candle. (I will prefer to Go Long here- Risky, but trading is always risky :)