Published on: February 23, 2024

Over the past few weeks, Nifty has exhibited a remarkable propensity for range-bound movements, confounding many trading strategies that rely on trending patterns. Even my Nifty Navigator Heikin Ashi system is going through a rough phase.
Despite these uneven roads, astute traders understand that patience is key to unlocking profitable opportunities in consolidation and apparent stagnation.
The Nifty index, a barometer of the Indian stock market, has been a puzzle for traders lately. While it periodically flirts with new highs, the subsequent loss of momentum leaves many scratching their heads – are you scratching your head, too? However, amidst this seeming chaos, a discernible bullish undertone remains characterised by a consistent pattern of higher and lower highs.
My prominent trading system, the Super-Trend, signals that the market may be primed for a breakout above the critical threshold of 22,275.
The system is marked by two key indicators – the fast and slow Super-Trend lines, which offer valuable insights into market sentiment and potential shifts in momentum. During periods of range-bound trading, where price movements remain confined, the system prompts traders to exercise caution, often advocating for a ‘no-trading zone’. However, when the price breaks above the fast Super-Trend line and trades above the slower counterpart, it signals a bullish momentum shift.
Nifty Daily Chart

Source: TradePoint
Analysing the current chart of Nifty, the fast Super-Trend line resides at 22,254. With a slight buffer factored in, the sustained move beyond the 22,275 mark could herald a stronger bullish momentum, potentially setting the stage for an extended uptrend.
Additionally, the Relative Strength Index (RSI) bolster this optimistic outlook. Having crossed above the pivotal 60 levels, the RSI demonstrates a series of higher highs, indicative of mounting bullish momentum.
However, amid potential gains allure, prudent traders recognise the importance of tempering their enthusiasm with a healthy dose of patience. Market dynamics, especially during periods of consolidation, often test the resolve of even the most experienced traders. It is during these times that impulsive decisions can lead to costly mistakes. Instead, adopting a patient and disciplined approach anchored in sound risk management principles is paramount.
Patience in trading extends beyond simply waiting for the right entry or exit points. It encompasses weathering short-term fluctuations, maintaining composure amidst uncertainty, and adhering to one’s trading plan rigorously. While the allure of quick profits may tempt some, the patient, methodical trader ultimately emerges victorious in the volatile world of stock trading.