18 Oct 13, 10:15 Am
Step 1 : Market Analysis
Nifty : Up 73 pts.
Cnx 500 : Up 49
A:D : 3 : 1
Market Analysis say today is " Up Day"
Step 2: Chart Analysis
Price gaped up 35 pts, and started to rise, which say price will close above its open. Price raised after two down days, which is also bullish. Momentum is also bullish. Trend on 5 min chart is changed to up and Higher time frame chart is also up. Chart analysis says today is bullish.
Conclusion:
Wait for correction and enter long.
ANALYSIS:
1. Price had a complex correction.
2. Candle stick pattern.
3. Momentum is bullish.
4. Trend is up
5. Price on correction
6. H Trend is up.
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