Daily charts:
- trend is down on daily charts
- today nifty closed 0.4% in positive at 11105
- AD was 13:5 (or slightly better than 2:1)
- stiff resistance around 11200
- how about an H&S forming with neckline at 11200?
- right hand shoulder (RHS) is yet to be formed
- but no harm in just guessing
- RHS formation would mean another decline leading to higher swing low
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMPA7cNZMwK3ZYbDhbmIhjzF9V-2Fzw8AwniclBTN3Q7ZZU39wioYr5kJKBiAw4MR3fBI_ZQaocUuPm6hJPKeWEI6GBVlsXen3B1TMouVnnoLu_GKwmvd8EnmMWG1P76bJ2UZ9HiBr5yVx/s640/a.png)
3 min charts:
- traded long on first bar breakout... stopped out
- traded long again (2nd blue arrow)...stopped out at breakeven
- did nothing thereafter as markets were extremely rangebound
- after a big move, it is normal for markets to give wild swings
- 2 consecutive whipsaws means ... keep quiet/ stay away
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW85hXdHRRyWpUEaeDb4OVicym-gov9_3H3tRF9MACMQ16aMBZxquxGkbh4W6VpgUXSFev7K_MooJAEjyIw1hTZ7MPpUKt2fBDv9pTl4E2ZLL7TTmVpq7WT5V3FXQKVyr1iaZiH8M03Ku6/s640/a.png)
15 min charts:
- you should be stopped out by now
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFsDhi6nL7YzHnxuCkbIA4NzIxY2swxRjjt2D-4bP-0uysK3AhGgCP9V3Ce97g0vsYmA5Ge2Oyh-8MmR0rM54VbgQCVLVdSzbhF4xskxStjb0V-5c8783DX-08kmY1V4-BMVL4ylY0DccO/s640/a.png)
Supertrend generated a lot of brokerage... all signals failed... happens with every indicator in rangebound markets.
- don't waste your life searching for the perfect indicator
- it does not exist
- the smart trader knows a whipsaw hints at a rangebound market
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyAOsU1sizbETj3k9offjJLGtVNdTQh06lisN8W__rN7N3hHVJ3fElZvnTcHgkBZDBEbCd-rZ9cWJzAkKD56MjG6Y2UGlpnZHazERNim7MGTo9apMKC-kZvEm2m9JYNNTUgXqQgpT-1Hmi/s640/a.png)
- trend is down on daily charts
- today nifty closed 0.4% in positive at 11105
- AD was 13:5 (or slightly better than 2:1)
- stiff resistance around 11200
- how about an H&S forming with neckline at 11200?
- right hand shoulder (RHS) is yet to be formed
- but no harm in just guessing
- RHS formation would mean another decline leading to higher swing low
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMPA7cNZMwK3ZYbDhbmIhjzF9V-2Fzw8AwniclBTN3Q7ZZU39wioYr5kJKBiAw4MR3fBI_ZQaocUuPm6hJPKeWEI6GBVlsXen3B1TMouVnnoLu_GKwmvd8EnmMWG1P76bJ2UZ9HiBr5yVx/s640/a.png)
3 min charts:
- traded long on first bar breakout... stopped out
- traded long again (2nd blue arrow)...stopped out at breakeven
- did nothing thereafter as markets were extremely rangebound
- after a big move, it is normal for markets to give wild swings
- 2 consecutive whipsaws means ... keep quiet/ stay away
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjW85hXdHRRyWpUEaeDb4OVicym-gov9_3H3tRF9MACMQ16aMBZxquxGkbh4W6VpgUXSFev7K_MooJAEjyIw1hTZ7MPpUKt2fBDv9pTl4E2ZLL7TTmVpq7WT5V3FXQKVyr1iaZiH8M03Ku6/s640/a.png)
15 min charts:
- you should be stopped out by now
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFsDhi6nL7YzHnxuCkbIA4NzIxY2swxRjjt2D-4bP-0uysK3AhGgCP9V3Ce97g0vsYmA5Ge2Oyh-8MmR0rM54VbgQCVLVdSzbhF4xskxStjb0V-5c8783DX-08kmY1V4-BMVL4ylY0DccO/s640/a.png)
Supertrend generated a lot of brokerage... all signals failed... happens with every indicator in rangebound markets.
- don't waste your life searching for the perfect indicator
- it does not exist
- the smart trader knows a whipsaw hints at a rangebound market
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgyAOsU1sizbETj3k9offjJLGtVNdTQh06lisN8W__rN7N3hHVJ3fElZvnTcHgkBZDBEbCd-rZ9cWJzAkKD56MjG6Y2UGlpnZHazERNim7MGTo9apMKC-kZvEm2m9JYNNTUgXqQgpT-1Hmi/s640/a.png)
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