6 Sep 13, 10:15
Step 1: Market Analysis
Nifty : up 2 pts
Sensex : up 50 pts
Cnx 500 : up 8 pts
A:D : 1.2:1
Market Analysis say today is "Sideways Day"
Step 2: Chart Analysis
Nifty yesterday formed a trading range of 5625 and 5560. Today morning price opened at 5617 just below the high of the trading range and soon corrected to bottom of trading range. Still price is in between the trading range, price will go sideways. The volatility of nifty has also peaked which indicates sideways trend in progress.
Conclusion:
Wait for price to reach support and Go long with stops.
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