Today 31 July 13 @ 10:15 am.
Step 1: Market Analysis:
Nifty : Down 68 pts
Cnx 500 : Down 64 pts
A/D : 1 : 5
so, the market analysis say today is " Down Day"
Step 2: Chart analysis
The Down trend of the nifty continued today also. Market had a big gap opening, the good buying opportunity come at 5650 - 5630. This where trend can end and we can look for pull back before continuation of trend. The weekly trend and daily trend line comes as support,so be cautious the trend can change any time.
Conclusion:
Don't go short today and look for long opportunities around 5650-5630, this is counter trend trade, u have to very cautious and look for confirmation before entry. Go with only half position.
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