Nifty - Will buy-on-dips strategy work this time?

NSE:NIFTY   Nifty 50 Index
Will buy-on-dips strategy work this time?

This is the best setups for bulls - buying on dips and a jhat-pat trade. The resistance turns support at 8,970 (pink line) will be crucial for bears to break. The recent rally in the range of 9,000-9,200 seems to be disheartened for bulls. The rangebound session with index being firm above 9K express positive yearly settlement for traders. The move from 1st week of April will be the trend decider.

RSI has broken previous two swing lows while the negative crossover on Stochastic hints the failure of buy-on-dips strategy this time. But the confirmation will only be below the pink line. The move above the fresh highs will negate the setup.


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