Nifty 50 goes sideways, what can we expect now?

Nifty 50 1 hour chart

Nifty 50 was sideways on 9th December. The index is moving exactly in between the levels identified, 24845 and 24500. This was already anticipated in our analysis and might do the same tomorrow as well. The levels of 24845 and 24500 might be tested but a breakdown or breakout is unlikely. For market to show confident move in any direction some consolidation will be necessary.

Any short setup above 24500 will have the first target as 24300. If after testing 24300 level, the recovery is fast and the level 24900 is cleared early in the day then the index will be bullish. For long trades there might be another setup that is possible. There can be a gap up open above or near 24845 and then a steep fall followed by a quick recovery might initiate a good long setup.

The market is sideways and we don't need to be very aggressive right now. There will be days when there will not be any setup and hence we should not trade randomly and maintain the discipline.