7 AUG 13 @ 10:20
Step 1: Market Analysis
Nifty : Down 28 pts
Cnx 500 : Down 14 pts
A:D : 1/1.5
The Market Analysis shows today is "DOWN DAY or BEARISH DAY"
Step 2: Chart Analysis
The price has started to open and fall below the yesterdays low. The volume also indicates today is down day. The price is near the daily support of 5500. This gives Conflicting signals in chart analysis.
Conclusion:
Go Short with tight stops and be prepared to take some small losses. Try to enter on pullbacks,so that your losses will be small and watch out for support at 5500.
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