2 Sep 13, 10:15 PM
Step 1 : Market Analysis
Nifty : Up 47 Pts.
Cnx 500 : Up 37 Pts.
A:D : 2.7 : 1
Market Analysis say today is "Up day". Be Cautious Nifty futures is trading at discount of 5 Pts.
Step 2 : Chart Analysis
As we already said in Weekly Analysis, that we are in resistance zone of 5500 - 5530. The 20 SMA and the downward sloping trend line which also comes at this point. Today morning market opened flat and hit its head at resistance and trading sideways. The volume too which is downward sloping. For intraday traders, Trade carefully better wait for some clarity on price and enter the trade.
Conclusion:
It is "No Trade day" for intraday traders.
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