26 SEP 13, 11:25
Step 1 : Market Analysis
Nifty : Down 16 pts
Cnx 500 : Down 4 pts
A:D : 1.2 : 1
Nifty premium is trading at 53 pts, this is indication of bearishness. The market analysis shows today is " sideways to mild bulls "
Step 2 : Chart Analysis
Market Gaped up 25 Pts and filled the entire gap, this Indicate bearish closing. The momentum indicator is clearly showing bears have upper hand. The Trend of the trading time frame(5 min) has changed to down. The Higher time frame trend (30 min) is sideways to sideways. The chart analysis says today is down day.
ANALYSIS
1. Price at support.
2. Candle stick pattern at support.
3. Momentum is bearish.
4. Trend is down.
5. Volume support price.
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