Initiate Positional Longs if 10 day SMA of TRIN dips below 1.0(Oversold)
check here for 10 day SMA Trin Charts for nifty
In short a rising Trin signals that the Bears are beginning to take control. Likewise, a falling Trin tells us that the Bulls are taking control of the direction of the market because a falling Trin shows us that more volume is flowing into advancing stocks than declining stocks.
And Current trin setup shows that there is a rising trin towards 1.0 which shows that
bears will be visible in couple of days.