22 Oct 13, 10 : 32 Am
Step 1 : Market Analysis
Nifty : up 2 pts.
Cnx 500 : up 10 pts
A:D : 2.5 : 1
Market Analysis say today is " sideways with positive bias "
Step 2 : Chart Analysis
Market just gaped down 12 and filled the entire gap, which say price will close above its open. The Price is trading between the yesterdays high and low, and yesterdays is sideways day. The momentum indicator shows bulls have strength and bears are weak. The trend on the 5 min chart is sideways. The trend on 30 min chart is up.
Conclusion:
Look for long at support with tight stops.
ANALYSIS:
Today nifty traded sideways and closed flat. Today our strategy was to look for long at supports. Price didn't come back to support, so we had no trade today.
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