Markets slip, just a bit.

After two days of narrow range days (Friday and Monday), the Nifty decided to take a directional call, moving below the lows of these two NR days. As the Nifty slipped, the short term trend has changed to down. Traders should follow this trend. The Intermediate trend will change to down if the Nifty were to close below 2950.

What are signs of trend reversal ? A reader asked this question. I have tried to answer it in my blog entry: The End of a Trend.