On the broader range Bank Nifty Futures is in sideways mode between 18000-20500 for the last 7 months which indicates that clearly the market is not driven by the longer term players. Long term players dominance is less reflected in the last 7 months.
If you are trading any charts to get a clear view about the trend it is good to start with Dalton’s Top Down Approach. In the top down approach we will start the day by looking into the monthly, weekly and then daily to understand the overall state of the trend. From top down approach one can understand the state of long term trend, intermediate trend, short term trend and gives you a fair perspective about the market rather than doing a bottom down approach. Lets understand the state of trend with Nifty Spot Charts and the sentiment associated with it.