10 SEP 13, 10:30 AM
Step 1: Market Analysis
Nifty : Up 155 pts.
Cnx 500 : Up 104 pts.
A:D : 4 : 1
Market Analysis say today is " Up Day"
Step 2: Chart Analysis
The market gaped open with 60 pts and opened above the resistance zone of 5750-5720. The is trading with strength and with good volume. The price has formed higher high and higher low. All this indicates bullishness.
Conclusion:
Go long with stops, The rally is too steep, so be cautious.
RESULT ANALYSIS:
Reason for Entry Zone:
1. Price at support.
2. Price corrected from strong up trend.
3. Price consolidated at support.
4. Gave break out of consolidation.
5. volume is confirming the price.
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