Nifty cracks down towards daily support zone, which is not yet breached. But, there is low volumes of less 26% against its average as it approaches support zone at 5183. The chances of briefly breaching support can be likely, but break of support will not give much of an impact now. Most of the index stocks are sideways, while some are bearish. Bullish stocks have come down significantly and many pull back trades on strongly bullish stocks have given whipsaw trades.
As trends get closed down, swing trades get whipsawed on the long side, markets are likely to continues sideways pattern in a more tighter fashion before any strong break comes through to guide the next direction. Many stocks on the index that took to bullish trades after a good trend reversal since January this year have closed their positions with marginal gains and some on small losses. With few bullish trades running on both the weekly charts at present, there seems to be a lull in the markets for some more weeks to come.
Sideways markets are not a good sign for swing traders, many trades will have whipsaws in whatever system they trade. Still yet, you cannot keep away from markets as you don't know when the change will come through. The best manner to trade such markets is by using lowest risk possible and keep positions running on the system trades, when the market gets direction you are already in to reap the benefits. Hence, trade with caution and keep the account from damage control too.
Team BraViSa.
As trends get closed down, swing trades get whipsawed on the long side, markets are likely to continues sideways pattern in a more tighter fashion before any strong break comes through to guide the next direction. Many stocks on the index that took to bullish trades after a good trend reversal since January this year have closed their positions with marginal gains and some on small losses. With few bullish trades running on both the weekly charts at present, there seems to be a lull in the markets for some more weeks to come.
Sideways markets are not a good sign for swing traders, many trades will have whipsaws in whatever system they trade. Still yet, you cannot keep away from markets as you don't know when the change will come through. The best manner to trade such markets is by using lowest risk possible and keep positions running on the system trades, when the market gets direction you are already in to reap the benefits. Hence, trade with caution and keep the account from damage control too.
Team BraViSa.
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