23 Oct 13, 10:20 Am
Step 1 : Market Analysis
Nifty : Down 12 pts.
Cnx 500 : Down 2 pts.
A:D : 1.8 : 1
Market Analysis say today is " Sideways with mild bullish bias"
Step 2 : Chart Analysis
Market Opened at resistance and started to fall down. The Nifty is in sideways trend for last two day's. Till the range breaks we are in sideways trend. The breakout of the range will determine the trend. The momentum indicator which signal bears are stronger and bulls are weaker. The trend on the 5 min charts is sideways. The H trend also turned sideways.
Conclusion:
Trend is sideways, trade accordingly
ANALYSIS
1. Price at support zone.
2. Hammer at support.
3. Trend is sideways.
4. H trend is sideways.
You would have made either small profit or small loss, the key is your following what analysis says.
0 comments:
Post a Comment