For Nifty Traders, movements inside the range are unlikely to give much gains. A breakout above resistance or a breakdown below support should provide the momentum for further price movement.
Then, the first strategy is to wait patiently for the futures to emerge out of this range. Second strategy: For all of us, anticipation can lead to more gains. Here, anticipation means taking a position inside the range in anticipation of breakout or breakdown. If our direction is called correctly, we get a head start in terms of entry. A third strategy is to buy calls and puts, then close the losing leg. (If the market goes up, sell the puts. If the market goes down, sell the calls). A fourth strategy is to step down in terms of time frame: trade the 5 minute or 15 minute chart for the smaller trend. If prices break out from these range levels, shift your trade to the 60 minute time frame. This is similar to anticipation.
Which one is best? There is no 'best' in Technical Analysis. All strategies will make money if you follow them with discipline, money management. What do readers say?