Analysis for the day: " No trade day".
Today Nifty broke the resistance of 5500 - 5530 and closed at 5550. The chart patter that formed today are excellent to trade.
Nifty opened flat and raised with strength for first 30 min and formed a ascending triangle. It gave breakout with good volume and raised 40 pts and gave correction and closed. If analysis for the day is positive or bullish. we should have traded and made at least 20 pts. As analysis of the days say " No trade day". we wont trade.
Learning:
- when in doubt get out.
- We develop a plan, trade based up on the plan and be prepared if we are wrong.
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