NIFTY hits range low on the daily charts, what next? Daily chart is non-trending, Hourly charts which opened into a trend on the actual closing price turning non-trending after averages were done by the exchange. So it's going to be a further wait and watch on both Swing and trend systems.
While trending systems doesn't give any option to trade, return to mean trading systems will be doing good with the use of Stochastics and other oscillators. Switching between trading plans is not advisable until a trader is well accustomed to that type of trading.
Stick to your trading plans, there may be losing trades and a streak of losses too, but in the long run, discipline pays well.
With the hourly histogram have a small bullish divergence in case there is a reversal, NIFTY is likely to reach 5130-50 resistance or it may even stall in between if the range is going to tighten. Range getting tightened and then blowing out will give good returns on the next move.
Trade the patterns and systems as they unfold every hour and day, do not second guess your systems or use judgment against your trading rules, these are testing times for traders. Market forces act to lure you into all types of games, once you give in, you are bound to get caught unawares.
Trade with caution.
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