Looks like Nifty in a pullback mode, what do you think?
Dow in a range. Bias is down move on hourly and pullback on daily.
Dow in a range
Buy on touch to weekly 20 EMA with stop loss below last touch low. Check since August 2013
Is it oversold?
Establishing higher demand zones
Nifty completed phase A of Wychoff and started developing phase B.
Nice bounce from Demand zone