Market breadth is not supporting nifty up move. See nifty underlying asset(HDFC BANK, RELIANCE, ex50) VOLUME AD and NIFTY Advance and Decline of underlying stocks. There is a huge fear in market due to - See INDIA VIX
Don't just rely on chartist's, ask yourself some fundamental questions. For Day trading use Breadth tools(Market Internals) to see the inside...
Inflation DATA helped NIFTY to have a small MOVE UP, I think it will not sustain the upward momoentum. So be Bearish on NIFTY(SHORT)
Market Breadth is not supporting it.. See the Underlying asset VOLUME AD and NIFTY WEIGHTAGE AD
As Mentioned on Friday only the retail traders were trading and the institutional money felt NIFTY needs a correction. Stay short on Nifty futures and options.
Negative underlying VOLUME AD and NEGATIVE UNDERLYING AD are picking up. means most of the nifty stocks needs a correction