How can we interpret today's market movement. In the morning session, it was totally bearish. And it has showed some strength in the afternoon session. Does it mean it is in a trading range?

Market is in a bull run and typically in such times market doesn’t really go down very easily. Until the trend changes, every dip in the market should ideally be looked as a buying opportunity.


Market is overbought as per RSI (14) and stochastic, it will go down for further almost one month. PE buyers are going to enjoy the same…

Thanks for the reply nithin. Basically im an intraday trader and pivot trading is my strategy. What im supposed to do in this kind of market?? Is it a gud idea to stay away as the market is moving in both directions without a proper trend??

If you are an intraday trader, I guess you want intraday volatility, and these are good times to trade as an intraday trader. The idea is to look for both long and short opportunities, but you have to be more long than short.

That is helpful… :slight_smile:

Thanks nithin!

Just a word of caution - RSI and stochastics (oscillators) can stay overbought or oversold for extended period of time. As John keynes says “The Market Can Remain Irrational Longer Than You Can Remain Solvent” … it is very well applicable to oscillators than any other set of indicators.