I apologize for not writing the blog. While I can make the excuse that I was probably overworked, I also know that I could have taken 15 minutes every day for new posts. So, please excuse!
After a sustained up move, the Nifty has come to a point where it is facing some resistance in the 5700 area. The Index also has a habit of sharp expansion followed by many days of contraction. The contraction process may be starting now.
The short term trend is up, so is the intermediate trend. We can do well by following the trend, paitently waiting for the sideways move to end. Inside the range, the trade will be to buy dips, sell rallies, look for small profits.