Nifty breaks out of range

The Nifty has broken out of the trading range from 4750-4830 towards the upside

For the short term the trend is up though the overall bias is still downwards. If the Nifty sustains above 4950 for a few days then the overall trend might change to up again.

For the time being decide your horizon and trade accordingly. Volatility is very high which is a feature of bear markets. The markets will guide us in the next few days as to the direction it is going to take.