Nifty trading 30 Nov

Nifty futures were quite volatile today with index giving both sell and buy signals.

First trade was of short at 5800 as the index got sold off from the 5 DMA.
The index is in sell mode for some time but the selloff is at the extreme as the daily rsi is in oversold levels for  bull phase.

The second trade was the buy when the index moved above the sell signal candle and ultimately above the 5 DMA. The signal was expected as the hourly major trend was bullish.

The buy should be closed at the end of day as Nifty failed to give a proper buy signal in my system.

Attached is the color of Nifty hourly charts.