26 Sep 13, 10:15
Step 1 : Economic Analysis
Today is a F&O expiry day
Step 2 : Market Analysis
Nifty : up 8 pts
Cnx 500 : up 6 pts
A:D : 1.5 : 1
Market Analysis shows today is "sideways to mild bullish "
Step 3 : Chart Analysis
Nifty just opened flat and which offer us no clues about the close.The momentum indicators shows bulls and bears have equal strength.The trend of the 5 min is chart is side to up. The trend of the higher time frame 30 min chart is down and have a strong pullback. So, there is no clear view on charts.
Conclusion
There is no clear view, wait for chart to show some patterns and enter the trade with tight stops.
0 comments:
Post a Comment