1. U.S Markets closed higher yesterday.
2. Right now , U.S Futures are slightly lower.
3. Yesterday the U.S markets were trading flat for the first half.
4. In second half there was a rally.
5. Markets have been moving sideways from quite some time now.
6. Nifty is trading in a zig zag pattern.
7. It up one day , down the next day and Ultimately going nowhere.
8. Yesterday the markets closed lower.
9. Today there's a gap up.
10. Previous 6 trading sessions have been one day up one day down.
11. Trend followers are being trapped badly.
12. As the markets ain't following any major trend.
13. 17300 - 17500 is the range for nifty.
14. Within this range nifty is trading with huge Volatility.
15. In Ranging markets, the trade is to buy at the lower end & sell at the upper end with stoploss .
16. Unless we cross 17600 decisively the larger trend is still bearish
17. There might be some pullbacks in between
18. These pullbacks are not so strong that could alter the trend of the market altogether.
19. We are in a sell on rally Market.
20. India VIX has now reached 13 which is all time low.
21. Selling naked isn't advisable in such environment.
22. Focus on trading via spreads.
23. Nifty might trade between 17250 to 17550.