24 Sep 13, 10:00
Step 1 : Market Analysis
Nifty : up 20 pts.
Cnx 500 : up 16 pts.
A:D : 1.5: 1
Market Analysis say today is "Bullish Day"
Step 2 : Chart Analysis
Nifty gaped down 35 and filled the gap completely. The Momentum indicator which is showing strong bulls and weak bears, The trend in the 5 min chart is down and show lack of momentum to carry. The trend in the 30 min chart is down and hit a support and bouncing. The chart analysis says today is " Mild Bullish"
Conclusion:
Look for long opportunity with tight stops.
TRADE ANALYSED:
1. Price at support zone.
2. Candle stick pattern at support.
3. Price pull backed to support.
4. Trend is up.
5. Momentum is bullish.
you may exited either at small loss or small profit.
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