This is for education purpose only and may not be useful for trading
Markets have been trading rangebound between 2960 
and 3055 for 2-3 days. The SL for the short positions (3055) got triggered as nifty closed above this.
Now the previous buy was highly profitable and the sell was marginal loss. The buy signal thus generated today shd be highly profitable. This is systematically speaking.
However the markets have strong overhead resistance at 3120 and more at 3200-3250. So let the markets tell us what to do...for eg., a failure of today's buy signal (2 day swing) will reinforce the bearish view as it would have happened below 3120. However a gapup opening tomorrow or strong trading above 3050 spot will imply further upsides.
Either way, 3050-3060 spot is the key level to watch/ trend decider.
IMPORTANT CLUE: watch RSI support on EOD chart.
and 3055 for 2-3 days. The SL for the short positions (3055) got triggered as nifty closed above this.Now the previous buy was highly profitable and the sell was marginal loss. The buy signal thus generated today shd be highly profitable. This is systematically speaking.
However the markets have strong overhead resistance at 3120 and more at 3200-3250. So let the markets tell us what to do...for eg., a failure of today's buy signal (2 day swing) will reinforce the bearish view as it would have happened below 3120. However a gapup opening tomorrow or strong trading above 3050 spot will imply further upsides.
Either way, 3050-3060 spot is the key level to watch/ trend decider.
IMPORTANT CLUE: watch RSI support on EOD chart.
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