25 SEP 13, 10:10
Step 1 : Market Analysis
Nifty : Down 2 pts
Cnx 500 : Up 2 pts
A:D : 1.5 : 1
Market Analysis say today is "sideways day"
Step 2 : Chart Analysis
Nifty Gaped up 10 points and completely filled the gap, this indicates 70% of time price will close below the opening price. The momentum indicates bulls and bears are in equal strength. The trend is sideways as price is trading with the ranges of yesterdays high and low. The higher time frame trend is also sideways. So, the trend for the day is "sideways to slight bearish bias "
Conclusion:
Trend for the day is sideways, so trade accordingly.
ANALYSIS:
Analysis of the day says today is sideways trend. During sideways trend we can take both long and short trade at support and resistance. The high probability trade is trade based up on higher time frame trend.
The support and resistance lines have been marked in the chart. if you look at today's chart there is no trade at support or resistance.so, today is a no trade day.
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