30 AUG 13, 10:30
Step 1 : Market Analysis
Nifty : up 37 pts
Cnx 500 : up 33 pts
A:D : 2 : 1
Market analysis says today is " UP Day"
Step 2 : Chart Analysis
Price started to rise from low of 5120 and continued to rise for two days. Today morning price opened flat and started to go up. As resistance are coming around 5460 and 5500. These are the key level and today is the closing day of the week. Today close will set the tone for next two weeks, so trade carefully.
Conclusion:
Wait for pullback and enter long, have tight stops.
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