Market looks range bound as it shows negative divergence in daily chart, which shows correction is possible till short average of monthly chart. but as there is small gap seen in short average and price bar in monthly chart. hence this correction is expected to be slow. when nifty touches Short average of monthly some buying will seen.
Note for Trade selection
Short sell trades :
- List stock having weak as per RSI in weekly chart.
- Check Macd & RSI below respective signal line and falling in h3 chart.
- Now take short sell action as per H1 chart.(close below Short average after retracement.
Buy and Hold trades
- List stock bullish as per Qly and monthly chart both
- Buy around Short average of Monthly chart