24 Oct 13, 10:10
Step 1 : Market Analysis
Nifty : up 69 pts.
Cnx 500 : up 42 pts.
A:D : 2.76 : 1
Market Analysis today is "Up or Bullish Day "
Step 2 : Chart Analysis
Market gaped down and filled the gap with opening bar, this is sign of bullishness. Price broke out of 3 day consolidation. The momentum indicator say bulls have strength, bears are weak. The trend on the 5 min chart is up and The trend on the 30 min is also up.
Conclusion
Enter long on correction with tight stop. The price is so steep there is chance for reversal or consolidation.
ANALYSIS:
NO ENTRY:
Our analysis suggest us to enter long with tight stops. So, we are looking for only long opportunities at support. you can see the support lines market in above charts. we will be waiting for price return to support line, price came at 12.25, and went through the support. so we had no entry opportunities today..
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