Whipsaws are quite common in a nontrending market especially when the competition is poor from both buyers and sellers. This usually happens when only trading money competes rather than a strong investing money.
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Though market shows immediate weakness short term traders who showed up for this series are not comfortable with what they are doing. So far it is a mixed trend since the start of sep 2019 month.
Price is balancing on Monthly timeframe, Weekly timeframe, Daily timeframe indicating how long this sideways price action is likely to continue.
It is likely to be a difficult market as the short term references are built on both the sides which bringing odds of market whipsawing around 10950 – 10780
In such a market scenario it is better to limit your trading expectation with limited targets with a very shorter holding period.
Though immediate direction in Nifty is down breakout failures around prev day low or prev week low, Prev Day high is very common. One has to position themselves accordingly.
G2 Low around 10780 and AB Poor High around 10960 levels are the immediate reference to focus in a very short term.
