Nifty's shallow correction continues.

Volumes have been high during the last 3 days of correction.
The last pivot low of 5160(+/-30) should be held by "bulls" for further up moves.
As indicated earlier, false moves on both sides are possible.
Option writers are already reaping in the benefits.
The correction so far has been orderly & within a channel with
channel boundaries being 5230 to 5280.

If a trader can recognise a "trading range' from a "trending move", his expectations will be reined in and he/ she can go about harvesting methodically. Knowing when to press the pedal and when to put the breaks makes a lot of sense in a trader's life.

"Being closed" below the "high ema" is one such method to identify a trading range.
A close below "Low ema" could be a downtrending move and a close above the "high ema" the resumption of the uptrend.