5 SEP 13, 10:15 AM
Step 1: Market Analysis
Nifty : up 137 pts
Sensex : up 390 pts
Cnx 500 : up 94 pts
A:D : 4:1
Market analysis says today is " UP Day"
Step 2: Chart Analysis
Today morning market just gaped up more than 100 pts. The market has crossed the resistance zone of 5500 - 5530, with huge gap. This looks like a breakaway gap, so i don't expect gap to be filled today. The strength is with bulls. So, the chart looks bullish.
Conclusion:
Go long with stops. Wait for some correction or price to reach support and enter the position.
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