Intra day and end of day volatility gives the impression of big moves going on in the Nifty. But, after the decline to 4900, the Nifty has really been moving sideways. For short term traders, there is some trading possible if you have a view on the trend. My view is: the trend is down, while we may be making a trading range at current levels. The view is based on charts, not just random!
For position traders, there really is no trsde in the Nify. The markets are probably developing a range. Then, once the boundaries of this range are visible, a break above will represent buying, while, a break below will repersent a continuation of the down move. It is true that this is a slow process, but then, what is the hurry?