Nifty in Current Scenario...

Bollinger Bands and ADX :

Nifty Monthly :       20DEMA = 5420

+BB3 = - ----,  +BB2 = 6138   , +BB1 = 5825 , -BB1 = 4963 , -BB2 = 4571 , -BB3 = 4180 .

ADX(14) = 18.81 , +DI = 13.04 , -DI = 18.24.

The monthly range on the lower side is 4963-4571-4180 with resistance at 20DEMA at 5420.The trend is clearly down with the price action is between the lower BB1 and BB2. The ADX(14 days) is at the lower end and the positive DI is below the negative DI.

Nifty Weekly :       20DEMA = 5214

+BB3 = 5816,  +BB2 = 5615   , +BB1 = 5414 , -BB1 = 5012 , -BB2 = 4817 , -BB3 = 4610 .

ADX(14) = 28.26 , +DI = 14.04 , -DI = 26.74.

The weekly range on the lower side is 5012-4817-4610 with resistance at 20DEMA at 5214.The trend is clearly down with the price action is between the lower BB1 and BB2. The ADX(14 days) is at the lower end and the positive DI is below the negative DI.We are just at the BB2 level breach of it will make it prone to 4610.

Nifty Daily :       20DEMA = 4920

+BB3 = 5140,  +BB2 = 5067   , +BB1 = 4993 , -BB1 = 4847 , -BB2 = 4773 , -BB3 = 4700 .

ADX(14) = 27.72 , +DI = 20.81 , -DI = 40.40.

The daily range on the lower side is  4847-4773-4700 with resistance at 20DEMA at 4920.The trend is clearly down with the price action is between the lower BB1 and BB2. The ADX(14 days) is just turning up and the positive DI is below the negative DI.We are just below the BB1 level breach of it will make it prone to 4773.

Nifty Hourly :       20DEMA = 4894

+BB3 = 5011,  +BB2 = 5067   , +BB1 = 4993 , -BB1 = 4855 , -BB2 = 4817 , -BB3 = 4778 .

ADX(14) = 37.08 , +DI = 7.88 , -DI = 35.27.

The hourly range on the lower side is  4855-4817-4778 with resistance at 20DEMA at 4894. The trend is clearly down with the price action is between the lower BB1 and BB2. The ADX(14 days) is rising and the positive DI is below the negative DI. We are just above the BB2 level breach of it will make it prone to 4778.

Nifty reversal from the above time periods looks bleak below the level of 4894.

Happy Trading !!!