This time using the classical technical analysis tools to analyze the how to play the trend reversal in nifty. On the weekly charts as per 5EMA high-Low strategy nifty is in sell mode for the past 6 weeks. And the RSI(2) and CCI(4) indicates oversold levels in Nifty Spot Weekly charts. Currently 5800PE is the highest open interest builtup area among the other strike price.
One of our Favorite Strategy to predict long term bull market with minimal risk is 13-13 Wilders Moving Average Channel offset trading system is applied to Nifty weekly chart and interestingly nifty has turned to buy mode(Nifty is in sell mode since Jan 2011. i.e almost more than a year). Also i would like to bring more attention our ichimoku trading system on the weekly charts as nifty had turned to buy mode last week on the weekly ichimoku charts