NIFTY INTRADAY ANALYSIS - 11 SEP 13 - TRADE ANALYSISED

Hi Traders,

11 sep 13, 10:30

Step 1: Market Analysis
NIfty      : Down 11 pts.
Cnx 500 : Up 5 Pts.
A:D        : 1.6 : 1

Market Analysis say today is " Sideways with mild bullish bias"

Step 2: Chart Analysis

Nifty opened slight below the yesterday's close and corrected. Took support at 5850, raised with strength and took resistance at 5910. Nifty is trading between yesterdays range. Chart Analysis also indicates same view i.e, "Sideways with bullish bias"

Conclusion:
Go long with stops.Enter at support

TRADE ANALYSIS:

Analysis of Day: "SIDEWAYS TO MILD BULLISH BIAS" Go long and enter at support.

Reason entry zone:

1. Price at support.
2. Price formed harami candle with bottom tail below support.
3.volume confirms bullishness.
4. we go the bears trap also.