Above 4700 the market's trend ( atleast in the short term ) has changed to up. After that there were a few drops one of 200 points and one of 70-80 points Nifty and whether we call it antitrend bear market rally or by whatever name, but the trend remained up.All these moves were tradeable in even shorter timeframes if we consider ourselves as neither permanant bulls nor parmanent bears ,we move as the market does.
We are now at a stage where either the uptrend can continue or the downtrend begins, so next week will be very crucial in deciding which way we are going to trade.
Ability to change according to changed environments is very important for survival of any species......traders no exception
Just thought of adding my 2 cents as we are at very important stage in the trend as of Friday's close....
Best Luck to all our friends ,the coming days will throw great opportunities.....
Smart_trade