Nifty showing too much indecisiveness. 7 Dojis can be seen in last 15 trading sessions. 3 hammers indicate bulls are not tired even after a long run. If recent Swing high and low are connected, we see today's close is at 78.6% Fib Level which is also 20 days SMA. one can go long here with a stop loss of recent swing low 9560 with open targets
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Today's down move with good volumes confirms downtrend. Stop loss triggered in this trade. Upon a bounce, traders may enter fresh shorts around 9570 with SL of 9640
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Those who shorted yesterday around 9570, Carry on the position with SL9640
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There is no sign of major weakness. Cover the shorts around CMP 9520 and wait for next breakout