The primary trend of the stock market is down. This means we are in a bear market. The Intermediate trend is down, when we made lower highs and lower lows. Traders should follow the intermediate trend. The minor trend may change from up to down and down to up. Given the volatile conditions, the minor trend is not easily traded.
How do we then trade the intermediate trend ? The answer is: go short if the Nifty makes a high which is below the last high made at 3180. This will confirm a pattern of lower highs, lower lows. Another sell short opportunity comes in if the Nifty breaks down below 2700 support.
The intermediate trend will change to up when we have a pattern of higher highs, lower lows. This has not happened yet.