After being bearish for the last 2 bars, ratings have moved to buy mode. A change in direction every hour is an indication that the markets lack direction. Now we need to trade long on both Trend and Swing positions if the current high of 5313 is taken off on NIFTY. Stop is kept tight at 5288, if the trade is not filled, new entry triggers will be posted in the n ext hour.
If the present consolidation continues for few more hours, we are likely to see the trendiness going off from the NIFTY Index.
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