NIFTY INTRADAY ANALYSIS - 20 AUG 13

Hi Traders,

20 AUG 13, 10:30 AM

Step 1: Market Analysis:

NIFTY      : Down 73 pts
CNX 500  : Down 50 pts
A:D           : 1:2

The Market Analysis say" Down day"

Step 2: Chart Analysis

Market just gaped down 100 pts after a speed down trend. The price which gaped down after a down trend will fill gap. This is indication of weak gap or weaker selling.Look for filling of gap or sideways trend.

Conclusion:

Go long with tight stop and with half position.