It was a clear week of down trend in the Nifty.
Possibly we are nearing the end of the present down move.
Still it is better to wait for a direction from Nifty. Whatever I had mentioned above are simply directional expectations. If Nifty moves as indicated then for short term we can go long, with strict stop loss of course.If the stop loss triggers, then the above analysis simply did not hold water and in that case, reverse your position and go short.
This is the best way to use all analysis. If we remove trading in anticipation, we are sure to make money.
Happy week end!