3 Sep 13, 10:15
Step 1: Market Analysis
Nifty : Down 59 Pts
Cnx 500 : Down 36 Pts
A:D : 1:1.24
Market Analysis says today is " Down day with mild bullish bias".
Step 2: Chart Analysis
Market just gap up, started to correct till yesterdays low(10:15). Now the market is trading in the 5500 - 5530 resistance zone which can now act as support. If these levels can't hold we can see market heading lower and forming sideways trend in weekly chart.
Conclusion:
As Market Analysis and Chart Analysis gives different views. The right strategy is to go short with tight stops with half position size. Be prepared for market bounces.
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