29 AUG 13, 10:30
Step 1: Market Analysis
Nifty : Up 30 pts
CNX 500 : Up 20 pts
A:D : 1.5 : 1
Market Analysis say today is "UP day"
Step 2 : Chart Analysis
The market just gaped open above the yesterdays high. Nifty yesterday after making low of 5123, it bounced to close the day in positive note. As you can see the volume that there is no great changes and price also not showing momentum. The price say today is sideways to mild bullish day. These are counter trend rally in down trend. so, trade carefully.
Conclusion
Go long on buy signals, with tight stops and half position size.
Some rules of risk management:
With trend = Full position size
Against trend = Half position size
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