15 Oct 13, 10:20
Step 1 : Market Analysis
Nifty : Down 10 pts
Cnx 500 : Down 7 pts.
A:D : 1 : 1
Market Analysis say today is " Sideways Day "
Step 2 : Chart Analysis
Market just gaped up 35 points and filled the entire gap, this say price will close below its open. Price breaks above the daily resistance of 6145 and corrected below, this also implies bearish signal. Momentum is bearish. The trend of the 5 min chart is up and look like top has been formed. The trend on the hourly chart is down.
Conclusion:
Look for only short opportunity.
ANALYSIS:
Reason for Entry:
1. Price at Support zone.
2. Doji at support.
3. Momentum is bearish.
4. Trend is Down
5. H trend is also down
0 comments:
Post a Comment