16 AUG 13, 10:18 AM
Step 1: Market Analysis.
NIFTY : Down 280
CNX 500 : Down 103
A:D : 1:3
Market Analysis indicates " DOWN DAY"
Step 2: Chart Analysis
Nifty Gap downed and continued lower with Strength. Price took resistance at 20 days daily MA yesterday. Intraday volatility has increased a lot. so be careful while trading, stops will also be high. Look only for short opportunity.
Conclusion:
Look for only short opportunity. Have tight stops.
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